The medical device space has drawn a lot of attention as late. It’s become one of those sectors – just as with the more chemical oriented biotech/healthcare space – that is prone to real swings and roundabouts as data hits from the clinical trial process. These data hits serve as catalysts for big moves, and smart money piggy backing can be a great way to take advantage of someone else’s due diligence ahead of such a catalyst.
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Apollo Endosurgery Inc. (NASDAQ:APEN) reported that H.i.g. Ventures – Endosurgery, Llc. has picked up 1,451,185 of common stock as of 2017-01-10.
The acquisition brings the aggregate amount owned by H.i.g. Ventures – Endosurgery, Llc. to a total of 1,451,185 representing a 13.6% stake in the company.
For those not familiar with the company, Apollo Endosurgery, Inc., formerly Lpath, Inc., is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries. The Company’s products include ORBERA, LAP-BAND and OverStitch. The Company’s product, ORBERA, is a gastric balloon. The ORBERA Intragastric Balloon System is a weight loss aid for adults suffering from obesity. The LAP-BAND System is a minimally invasive procedure that offers weight loss. The LAP-BAND System is indicated for weight reduction for patients with obesity.
A glance at Apollo Endosurgery Inc. (NASDAQ:APEN)’s key stats reveals a current market capitalization of 6.15 million based on 437,123.00 shares outstanding and a price at last close of $15.61 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-12-12, Petree picked up 2,955 shares at a purchase price of $2.77. This brings their total holding to 13,286 as of the date of the filing.
On the sell side, the most recent transaction saw Barclays unload 13,800 shares at a sale price of $0.80. This brings their total holding to 5,307,300.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Apollo Endosurgery Inc. (NASDAQ:APEN) as things move forward to see if its progress aligns with these transactions.
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