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Monday, March 20, 1:05 PM ET, by Market News Video Staff

In trading on Monday, shares of La Jolla Pharmaceutical Co. (LJPC) touched a new 52-week ...

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Insider Bets Paying Off At LJPC As New 52-Week High Reached

By Market News Video Staff, Monday, March 20, 1:05 PM ET
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In trading on Monday, shares of La Jolla Pharmaceutical Co. (NASDAQ:LJPC) touched a new 52-week high of $39.28/share. That's a 175.84% rise, or $25.04 per share from the 52-week low of $14.24 set back on 05/06/2016. That means at today's intraday high, any investor who purchased LJPC stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, LJPC has seen 5 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
03/03/2017 George F. Tidmarsh President, CEO & Secretary 3,000 $34.17 $102,504.60
03/02/2017 Jennifer Carver Chief Operating Officer 1,000 $34.46 $34,459.75
03/03/2017 Lakhmir S. Chawla Chief Medical Officer 1,600 $34.80 $55,677.84
03/03/2017 Dennis Mulroy Chief Financial Officer 500 $33.95 $16,975.00
03/02/2017 Kevin C. Tang Director 100,000 $34.64 $3,463,840.00

The chart below shows where LJPC has traded over the past year, with the 50-day and 200-day moving averages included.

La Jolla Pharmaceutical Co. Moving Averages Chart

In afternoon trading on Monday, LJPC shares are changing hands at $38.70/share, slightly below the new 52-week high.


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