Lucid files for 1-for-10 reverse stock split requiring shareholder approval
ADMA Biologics (NASDAQ:ADMA) President and CEO, Adam S. Grossman, recently executed a series of stock transactions involving the company’s common stock. On April 15, Grossman sold a total of 21,000 shares, amounting to $450,660, at a price of $21.46 per share. These transactions were carried out under a Rule 10b5-1 trading plan with Fidelity Brokerage Services LLC, established in December 2024. The sales come as ADMA trades near its 52-week high of $23.64, with the stock delivering an impressive 251% return over the past year, according to InvestingPro data.
In addition to the sales, Grossman exercised stock options to acquire 15,000 shares at a price of $5.4 per share, for a total value of $81,000. Following these transactions, Grossman holds 2,055,850 shares directly, with additional indirect holdings through Areth, LLC and Hariden, LLC. The company, now valued at approximately $5 billion, maintains an "EXCELLENT" financial health score on InvestingPro, which offers comprehensive analysis including 15+ additional ProTips and detailed financial metrics in its Pro Research Report.
In other recent news, ADMA Biologics reported strong financial results for the fourth quarter of 2024, with earnings per share (EPS) significantly surpassing expectations at $0.46 compared to the forecasted $0.15. The company’s revenue for the same period reached $117.5 million, exceeding the anticipated $113.4 million. For the full year, ADMA Biologics achieved total revenue of $426.5 million, marking a 65% increase from the previous year. Analysts from Cantor Fitzgerald have maintained their Overweight rating and $25 price target on ADMA Biologics, noting the company’s conservative revenue guidance and consistent upward revisions. Mizuho (NYSE:MFG) Securities also expressed confidence in ADMA Biologics, raising the price target from $28 to $32 and maintaining an Outperform rating, citing the significant revenue potential of ASCENIV, ADMA’s immune globulin product. The company’s recent long-term plasma supply agreements have alleviated supply chain risks, contributing to the positive outlook. These developments underscore the company’s strategic focus on expanding its plasma collection and production capabilities, which continue to drive its financial growth.
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