In a series of recent transactions, Andrew Cittadine, the Chief Operating Officer of Monopar Therapeutics (NASDAQ:MNPR), purchased a significant number of shares in the company. Over the course of three days, Cittadine acquired a total of 36,000 shares of Monopar Therapeutics common stock, investing $23,049.
The transactions, which took place between May 29 and May 31, saw the COO buying shares at weighted average prices that varied daily. On May 29, Cittadine purchased 12,000 shares at an average price of $0.6369 per share, totaling $7,642. The following day, another 12,000 shares were acquired, this time at a slightly higher average price of $0.6397 per share, amounting to $7,676. On the final day of the buying spree, May 31, Cittadine again bought 12,000 shares, with the average price per share increasing to $0.6443, bringing the investment for that day to $7,731.
These purchases were made in multiple transactions at prices ranging from $0.629 to $0.6502, as noted in the footnotes of the SEC filing. After these acquisitions, Andrew Cittadine's ownership in Monopar Therapeutics has increased to a total of 93,624 shares of common stock.
The buying activity by a high-ranking executive like Cittadine often garners attention from investors, as it may reflect the leadership's confidence in the company's future prospects. Monopar Therapeutics, a biopharmaceutical company, is focused on developing therapies for cancer and life-threatening diseases, and such insider transactions are closely monitored by the market for insights into the company's potential.
InvestingPro Insights
Following the recent insider buying activity at Monopar Therapeutics, several metrics and insights from InvestingPro might shed light on the company's financial health and market performance. Monopar Therapeutics, with a market capitalization of $10.66 million, seems to be navigating through challenging financial waters. The company's price-to-earnings (P/E) ratio stands at -1.06, reflecting its current lack of profitability—a trend that is expected to continue with analysts not anticipating the company to be profitable this year. Moreover, the adjusted P/E ratio for the last twelve months as of Q1 2024 has slightly decreased to -1.4.
Despite the negative earnings, Monopar Therapeutics holds a strategic financial position, as it has more cash than debt on its balance sheet. This is a crucial InvestingPro Tip that suggests the company has a solid liquidity position to cover its short-term obligations, with liquid assets exceeding its short-term liabilities. Additionally, the company's recent stock performance has seen a significant uptick, with a six-month price total return of 111.13%, potentially indicating investor optimism or speculative interest.
For those considering an investment in Monopar Therapeutics, it's worth noting that the company does not pay dividends to shareholders, which might influence the investment strategy for income-focused investors. To gain deeper insights and access additional InvestingPro Tips, such as the company's operating income and return on assets, interested parties can visit https://www.investing.com/pro/MNPR. Moreover, potential subscribers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a treasure trove of valuable information, with a total of 6 additional InvestingPro Tips available for Monopar Therapeutics.
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