It is likely that Osmotica Pharmaceuticals Plc (NASDAQ:OSMT) is going to come into the radars of many investors this morning considering the fact that on Monday its stock had made a notable move and ended the day with gains of 5%.
Trading Data
On Monday, OSMT stock ended higher by 4.70% to $1.03 with 298k shares, compared to its average volume of 883k shares. The stock has moved within a range of $0.9840 – 1.0570 after opening trade at $1.02.
COO Acquires $100,366.00 in Stock
In this context, it may be a good idea for investors to take a look at a major development on Monday. Yesterday, it emerged that the Chief Operating Officer of the company James Schaubhad purchased as many as 93800 shares in Osmotica in a transaction that had taken place last Thursday.
The company’s executive had paid an average of $1.07 for each share and the total value of the deal stood at $100,366. It goes without saying that the purchase of a big block of shares from a top executive in a company is a major deal. It implies that insiders are quite bullish about the prospects of the company in the future. Hence, the rally in the stock on Monday was perhaps understandable. The transaction was revealed in a filing made to the United States Securities and Exchange Commission. It now remains to be seen if the stock can manage to add to its gains today.
