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

Destiny Pharma plc (LON:DEST) shot up 24.3% during 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 traded hands during mid-day 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 stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of GBX 0.25 ($0.00) per share, with a total value of £3,100 ($3,961.66). 24.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Destiny Pharma Stock Performance

The company has a 50 day simple moving average of GBX 8.88 and a two-hundred day simple moving average of GBX 23.57. The firm has a market cap of £3.38 million, a PE ratio of -64.08 and a beta of 0.31.

About Destiny Pharma

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.