Boston, MA 09/25/2014 (wallstreetpr) – Biopharmaceutical company Opko Health Inc. (NYSE:OPK) Chairman and Chief Executive Officer, Phillip Frost, has been on an accumulation spree of the company’s shares. He has purchased shares through Frost Gamma Investment Trust. The latest acquisition of shares is twelfth incident in the current month of September. The current purchase of shares comes on the heels of the company announcing that its second Rayaldee Phase 3 study met primary endpoints.
Accumulate Shares
Opko Health Inc. (NYSE:OPK)’s CEO Frost has purchased 70,100 shares for Frost Gamma Investment Trust on September 23, according to Form 4 filed with the SEC on September 24. There were at least two dozen transactions of buying activities on Tuesday with the volume ranging between a minimum of 32 shares to 13,300 shares. The average rate worked out to $8.32, and the CEO’s investment trust has paid $583,084 to buy the stake.
The purchase represented that the trust has paid 13.7% premium over the 52-week low price of $7.32 and a discount of 35.8% from the one-year high price of $12.95. As a result, Frost Gamma Investment Trust holding in Opko Health increased to nearly 143.17 million shares. This is approximately worth $1.18 billion based on $8.26 a share price. His direct holding continues to remain 2.01 million shares valued around $16.6 million.
In the current month of September, there were eleven transactions of insider trading activities mainly by Frost Gamma Investment Trust.
One-Year Insider Trading
According to a data from Nasdaq, there were forty transactions of insider trading activities in the last three-month period, and all belonged to purchase of 1.02 million shares. There were no selling activities by the insiders.
Similarly, for the 52-week period, there were 179 transactions of insider trading activities, and 170 of them were reported to SEC for acquisition of shares while nine transactions were regarded as selling of shares. While 5.77 million shares were acquired by the insiders, only 630,622 shares were unloaded by them in the last one-year period. This meant that there was a net buying activity of 5.14 million shares.
