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.
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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.
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