The Chairman of This Early-Stage Diagnostics Company Purchases Shares
There was also noteworthy insider buying registered at Cancer Genetics Inc. (NASDAQ:CGIX) during the past several trading sessions. John Pappajohn, non-executive Chairman of the company’s Board of Directors since January 2014, purchased 67,778 shares on Friday and 79,722 shares on Monday at prices that fell between $2.10 and $2.22 per share. Mr. Pappajohn currently owns a stake of 2.24 million shares.
The company develops, commercializes and provides molecular- and biomarker-based tests and services enabling physicians to personalize the clinical management of each individual patient by providing genomic information to better diagnose, monitor and inform cancer treatment. Cancer Genetics Inc. (NASDAQ:CGIX)’s revenue for the second quarter of 2016 jumped by 67% year-over-year to $7.0 million, primarily reflecting the acquisition of Response Genetics in October 2015. The top-five test ordering clients of Cancer Genetics accounted for 40% of the company’s testing volumes during the past quarter. The diagnostics company has lost one-quarter of its market value since the start of the year. Ken Griffin’s Citadel Advisors owns approximately 15,000 shares of Cancer Genetics Inc. (NASDAQ:CGIX) as of June 30.
Board Member of This BDC Buys Some Shares Through Public Offering
According to our insider trading database, Golub Capital BDC Inc. (NASDAQ:GBDC) had not registered any insider buying since late 2015, until this week. Board member John T. Baily snatched up 8,250 shares on Monday at a price tag of $18.35 each. Following the recent purchase, Mr. Baily currently owns 23,179 shares.
Golub Capital BDC Inc. (NASDAQ:GBDC) operates as a business development company that invests primarily in senior secured and one-stop loans to U.S. mid-market companies. The shares of the BDC were trading above its net asset value per share of $15.88 at the end of June, so one should have anticipated the company to issue more stock to channel capital into a strong pipeline of deals. To that end, Golub Capital BDC currently plans to offer 1.75 million shares at a public offering price of $18.35 per share by the end of the week. The BDC has seen its market value spike by 12% since the beginning of the year. Robert B. Gillam’s McKinley Capital Management acquired a new stake of 105,281 shares of Golub Capital BDC Inc. (NASDAQ:GBDC) during the April-to-June period.
The final page of this article will discuss the fresh insider selling registered at two other companies.