Monopar Therapeutics Inc . (NASDAQ:MNPR) Chief Operating Officer Andrew Cittadine has recently made significant purchases of the company's common stock, according to the latest SEC filings. The transactions, which took place over three consecutive days, have seen the COO acquire a total of 36,000 shares, with the total investment surpassing $32,000.
The first transaction occurred on June 13, 2024, with Cittadine buying 12,000 shares at a price of $0.91 per share, amounting to a total of approximately $10,920. This was followed by a purchase of another 12,000 shares on June 14, at a slightly higher weighted average price of $0.9313 per share. The total for this transaction came to $11,175. The final batch of 12,000 shares was acquired on June 17, at the lowest price of the series, $0.8999 per share, totaling roughly $10,798.
Investors may note that the June 14 transaction involved multiple trades at prices ranging between $0.9100 and $0.93994, as detailed in the footnotes of the SEC filing. Cittadine has committed to providing full information regarding the number of shares bought at each price upon request.
With these latest acquisitions, Andrew Cittadine's ownership in Monopar Therapeutics has increased significantly, reflecting a strong vote of confidence in the pharmaceutical company's prospects. Following the transactions, the COO now holds a total of 153,624 shares in the company.
Monopar Therapeutics, which specializes in pharmaceutical preparations, is based in Wilmette, Illinois, and operates under the leadership of a dedicated team focused on the development of therapies for cancer and life-threatening diseases. The recent purchases by a high-ranking executive like Cittadine may be of interest to current and potential investors, as insider trading activity is often scrutinized for insights into a company's health and future direction.
In other recent news, Monopar Therapeutics has seen several significant developments. The company has expanded its partnership with NorthStar Medical Radioisotopes, securing a long-term supply contract for actinium-225, a radioisotope used in cancer treatment. This collaboration is expected to leverage NorthStar's advancements in manufacturing Ac-225 and Monopar's preclinical successes with its MNPR-101 radiopharma program.
Monopar has also announced the retirement of CFO Kim R. Tsuchimoto, with Karthik Radhakrishnan set to assume her roles, bringing over 20 years of financial strategy and investment experience to the company. In addition to these changes, Monopar has filed a provisional patent application for advancements in its MNPR-101 radiopharmaceutical program, aimed at protecting the program as Monopar continues to develop therapies for multiple advanced cancers.
Jones Trading has upgraded Monopar's stock rating from "Hold" to "Buy," following the company's announcement of a Phase 1 dosimetry trial in Australia for MNPR-101-Zr. Lastly, Monopar has initiated a Phase 1 clinical trial for its novel imaging agent MNPR-101-Zr, intended for patients with advanced cancers. This trial is currently recruiting participants at the Melbourne Theranostic Innovation Centre in Australia.
InvestingPro Insights
In light of the recent insider buying activity at Monopar Therapeutics Inc. (NASDAQ:MNPR), investors have additional metrics and tips to consider from InvestingPro. Chief Operating Officer Andrew Cittadine's acquisition of company shares is a significant indicator of confidence in the firm's future. Complementing this, InvestingPro Tips highlight that Monopar Therapeutics holds more cash than debt on its balance sheet and has seen a significant return over the last week, with a 21.35% price total return. These insights may further bolster investor confidence, aligning with the COO's actions.
From a financial standpoint, Monopar Therapeutics has a market capitalization of $15.04 million, which, when considered alongside its recent price performance, suggests a notable uptick in market interest. The company's price-to-book ratio as of the last twelve months ending Q1 2024 stands at 2.01, indicating the market's valuation of the company relative to its book value.
However, it is worth noting that analysts do not anticipate the company to be profitable this year, and it has not been profitable over the last twelve months. Moreover, Monopar Therapeutics does not pay a dividend to shareholders, which may influence the investment strategy of income-focused investors.
For those looking to delve deeper into Monopar Therapeutics' financials and future outlook, InvestingPro offers additional insights. There are currently 9 more InvestingPro Tips available for MNPR at https://www.investing.com/pro/MNPR. To access these and other in-depth analyses, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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