Boston, MA 09/18/2014 (wallstreetpr) – Biopharmaceutical and diagnostics company, Opko Health Inc. (NYSE:OPK) Chairman of the Board and Chief Executive Officer, Phillip Frost, seems to be not giving up his buying opportunities of the company’s share, whether it was direct or indirect. He has resorted to acquiring the shares of the company to further consolidate his holding. In the current month alone, there were at least nine trading activities by the insiders.
Buys Shares
Frost Gamma Investments Trust, in which Opko Health Inc. (NYSE:OPK) CEO has interest, has bought 25,000 shares on September 16 at an average cost of $8.39 per share, according to a Form 4 filed on September 17 with the Securities and Exchange Commission. As much as twelve transactions were mentioned in the SEC filing though quantities and prices differ for every transaction.
The minimum quantity purchased in a single transaction was 100 shares while the maximum shares were 6,500 through a single transaction. Similarly, the price per share also ranged between $8.46 and $8.52. The trust has paid a total of $212,185 to buy the 25,000 shares.
The latest acquisition of shares has lifted Trust’s holdings in Opko Health Inc. (NYSE:OPK) to nearly 143.02 million shares. The Chairman and the CEO continues to hold 2.01 million shares directly. The recent acquisition suggested that the trust has paid a premium of 14.6% over the 52-week low price of $7.32 while it paid about 35.2% discount to the one-year high price of $12.95.
Previous Transactions
There were eight transactions of buying activities by Frost Gamma Investment Trust before the most recent transactions in the current month. The trust has been continuously buying the company’s shares. It has bought 20,000, 15,000 and 20,000 shares on September 15, 12 and 11 respectively, according to a data from Nasdaq.
One-Year Transactions
While there were 42 transactions of buying activities in the 3-month period, there were 168 transactions of buying by the insiders in the last one-year period. Only nine transactions of selling were reported to the SEC. As a result, a total of 1.14 million shares have been purchased by the insiders in the last three months, whereas the net buying activity was for 5.06 million shares during the 52-week period.
