Gemphire Therapeutics Inc (NASDAQ:GEMP) Insider Steven R. Ph.D. Gullans Acquires 71,429 Shares

Gemphire Therapeutics Inc (NASDAQ:GEMP) insider Steven R. Ph.D. Gullans purchased 71,429 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $500,003.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Gemphire Therapeutics Inc (GEMP) traded down $0.02 during midday trading on Monday, reaching $6.60. The company’s stock had a trading volume of 88,100 shares, compared to its average volume of 132,485. The firm has a market capitalization of $90.92, a P/E ratio of -1.95 and a beta of 3.90. The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 1.00. Gemphire Therapeutics Inc has a 1 year low of $6.07 and a 1 year high of $21.59.

A number of research firms recently issued reports on GEMP. Zacks Investment Research raised Gemphire Therapeutics from a “sell” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Thursday. ValuEngine downgraded Gemphire Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 8th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Gemphire Therapeutics in a research report on Thursday, February 1st. Roth Capital reaffirmed a “buy” rating and issued a $30.00 target price on shares of Gemphire Therapeutics in a research report on Friday, December 22nd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Gemphire Therapeutics in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Gemphire Therapeutics has an average rating of “Buy” and an average price target of $22.75.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new position in Gemphire Therapeutics during the second quarter worth approximately $139,000. Virtu Financial LLC acquired a new position in Gemphire Therapeutics during the fourth quarter worth approximately $120,000. Vanguard Group Inc. increased its position in Gemphire Therapeutics by 137.6% during the second quarter. Vanguard Group Inc. now owns 30,898 shares of the company’s stock worth $399,000 after buying an additional 17,892 shares during the last quarter. Comerica Bank acquired a new position in Gemphire Therapeutics during the third quarter worth approximately $850,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Gemphire Therapeutics by 4.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 159,964 shares of the company’s stock worth $1,520,000 after buying an additional 6,900 shares during the last quarter. 21.22% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: “Gemphire Therapeutics Inc (NASDAQ:GEMP) Insider Steven R. Ph.D. Gullans Acquires 71,429 Shares” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US & international copyright legislation. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/02/19/insider-buying-gemphire-therapeutics-inc-gemp-insider-purchases-71429-shares-of-stock.html.

Gemphire Therapeutics Company Profile

Gemphire Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the development and commercialization of therapeutics to treat cardiovascular and metabolic diseases. It is developing its product candidate, gemcabene (CI-1027), which is a once-daily, oral therapy for patients who are unable to achieve normal levels of low-density lipoprotein cholesterol (LDL-C) or triglycerides with approved therapies, primarily statin therapy.

Receive News & Ratings for Gemphire Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gemphire Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply