RXi Pharmaceuticals (OTC:RXII) has just filed a form 4 with the Securities Exchange Commission. Recall that a form 4 refers to insider transactions at the company. Well, at RXi, there has been a wave of insider buying by CEO Geert Cauwenbergh over the last month ever since its large sell-off. The CEO now owns a substantial stake in the company. According to the filing, yesterday during the open market (10/13/14), CEO Geert Cauwenbergh purchased another 3,000 shares. The shares were purchased at the price of $1.6799. If we dig a little deeper we see that the shares bring his total stake to 44,000 shares, many of which have been purchase since the start of September. The purchasing has not done much to stop the shares from falling, although at $1.72 prices are stabilizing. At current price shares are at an opportunity level never before seen in RXi and it stems from small cap biotech weakness as a whole,
So what am I doing? I am buying more shares this week. Doubling position in the $1.68-$1.75 range
Hi Chistopher. Im a shareholder too, (and with a loss atm). Looking to average down a bit, I found an issue at stocktwits.com. It's about the possibility of Tang (?) unloading a large amount of shares, driving the stock down again. Do you have any idea what this is about?
ReplyDeleteBest regards Jette K (Denmark)