Harvard Apparatus Regenerative Technology, Inc. (NASDAQ:HRGN) CEO He Junli has increased his stake in the company with a recent purchase of shares worth approximately $17,190. The transaction, which took place between August 27 and September 6, involved the acquisition of 5,101 shares of common stock at an average price of $3.37 per share.
The purchase comes as a sign of confidence from the CEO in the future of Harvard Apparatus, a company specializing in surgical and medical instruments and apparatus. Following the transaction, He Junli now owns a total of 259,701 shares directly.
Investors often look to insider buying as a positive signal that executives believe in the company's potential for growth and value creation. While the CEO's acquisition represents a relatively small addition to his existing holdings, it nonetheless indicates a vested interest in the company's performance and alignment with shareholder interests.
The details of the transactions, including the range of prices at which the shares were bought, were disclosed in accordance with regulatory requirements. He Junli, through his representative, has agreed to provide full information regarding the number of shares purchased at each separate price within the range upon request by the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
Harvard Apparatus, previously known as Biostage, Inc., has its headquarters in Holliston, Massachusetts, and is incorporated in Delaware. The company's shares are traded on the NASDAQ under the ticker symbol HRGN.
InvestingPro Insights
As Harvard Apparatus Regenerative Technology, Inc. (NASDAQ:HRGN) witnesses its CEO He Junli increasing his stake in the company, the market is also showing some interesting developments for HRGN. According to InvestingPro data, the company's market capitalization stands at $70.04 million, reflecting its current valuation in the market. Despite the company not being profitable over the last twelve months, InvestingPro Tips highlight a significant return over the last week, with a 10.81% price total return, suggesting a recent uptick in investor confidence.
Moreover, HRGN has experienced a strong return over the last month, with a 105.0% price total return, which may correlate with the CEO's recent share purchase and could signal a positive outlook among investors. This performance is also notable over the last three months, with a 70.83% return. It's important to note that the stock has been trading at a high revenue valuation multiple, which indicates a premium price compared to its revenue.
For investors interested in the dynamics of HRGN's stock, an InvestingPro Tip points out that the stock generally trades with high price volatility, which could be a key consideration for those with a particular risk tolerance. Additionally, the stock price often moves in the opposite direction of the market, suggesting it could serve as a potential hedge or counterbalance within a diversified portfolio.
While CEO He Junli's recent investment in HRGN shares demonstrates confidence, investors can delve deeper into the company's prospects with additional insights. There are 12 more InvestingPro Tips available for HRGN at https://www.investing.com/pro/HRGN, offering a comprehensive view of the company's financial health and market performance.
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