Why Alaunos Therapeutics Triumphed On Tuesday
Biotech stocks tend to be volatile, and one of the more up-and-down titles in the sector lately has been Alaunos Therapeutics (NASDAQ: TCRT). True to form, the company's share price enjoyed a modest, 2%-plus pop on Tuesday after a down session Monday. Investors were encouraged by some notable insider buying activity.
In regulatory filings after market hours on Monday, no fewer than four top Alaunos managers revealed that they had exercised some of their options to buy the company's stock. Specifically, these C-suite denizens were senior vice president of legal Melinda Lackey, vice president of research and development Drew Deniger, vice president of technical operations Abhishek Srivastava, and vice president of finance Michael Wong.
Of the quartet, the most eager exerciser was Deniger. The executive loaded up with 305,000 Alaunos shares. This was followed by Lackey's 185,000-strong acquisition, Wong's (50,000 shares), and Srivastava's (25,000). In all four cases, the exercise price was $2.11 per share.
Source Fool.com
