Destiny Pharma (LON:DEST) Shares Up 24.3% Following Insider Buying Activity

Destiny Pharma plc (LON:DEST) shares traded up 24.3% during mid-day trading on Monday following insider buying activity. The stock traded as high as GBX 2.98 ($0.04) and last traded at GBX 2.98 ($0.04). 191,948 shares were traded during trading, a decline of 68% from the average session volume of 604,098 shares. The stock had previously closed at GBX 2.40 ($0.03).

Specifically, insider Nigel Rudd acquired 1,240,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of GBX 0.25 ($0.00) per share, with a total value of £3,100 ($3,961.66). 24.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Destiny Pharma in a research note on Monday, July 15th.

Destiny Pharma Trading Down 26.0 %

The firm has a market cap of £3.38 million, a price-to-earnings ratio of -64.08 and a beta of 0.31. The business’s 50-day simple moving average is GBX 8.88 and its two-hundred day simple moving average is GBX 23.57.

Destiny Pharma Company Profile

Destiny Pharma plc, a biotechnology company, focuses on the discovery, development, and commercialization of novel medicines to prevent serious infections in the United Kingdom. The company is involved in developing NTCD-M3 that is in Phase II clinical trial for the prevention of recurrent Clostridioides diffcile infections; XF-73 Nasal, which is in Phase II clinical trial for the prevention of post-surgical staphylococcal infection; and XF-73 Dermal that is in preclinical stage for the treatment of skin infections of antibiotic resistant bacteria, as well as superficial skin infections of antibiotic resistant bacteria.