Coronado Biosciences in Forbes' Insider Buying Report: $CNDO
Coronado Biosciences (NASDAQ: CNDO) is engaged in the development of novel immunotherapy biologic agents. The Company's two principal pharmaceutical product candidates in clinical development are CNDO-201, a biologic for the treatment of autoimmune diseases, such as Crohn's disease, ulcerative colitis and multiple sclerosis; and CNDO-109, a biologic that activates natural killer cells, for the treatment of acute myeloid leukemia and solid tumors.
Forbes.com covered CNDO in its Insider Buyer Report:
“As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money...On Thursday, Coronado Biosciences Inc (CNDO)’s See Remarks, Noah D. Beerman, made a $24,960 buy of CNDO, purchasing 5,000 shares at a cost of $4.99 each. Beerman was up about 8.2% on the purchase at the high point of today’s trading session, with CNDO trading as high as $5.40 in trading on Friday. This buy marks the first one filed by Beerman in the past twelve months. In the past twelve months, 1 other insider bought CNDO, buying $7,837 shares at a cost of $5.22 each.”
Two other Coronado insiders also purchased stock: Dr. Bobby W. Sandage, Jr., Coronado's President and CEO, purchased 2,000 shares at an average price of $5.24; and Dr. Lindsay A. Rosenwald, a member of the Board of Directors, purchased 16,000 shares at an average cost of $5.68.