Kadmon (NYSE:KDMN) Shares Gap Up After Insider Buying Activity

Shares of Kadmon Holdings Inc (NYSE:KDMN) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $4.23, but opened at $4.13. Kadmon shares last traded at $4.17, with a volume of 180,446 shares changing hands.

Specifically, major shareholder Perceptive Advisors Llc purchased 1,470,588 shares of Kadmon stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $3.40 per share, for a total transaction of $4,999,999.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.85% of the stock is currently owned by insiders.

KDMN has been the topic of several research analyst reports. ValuEngine cut shares of Kadmon from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald boosted their price target on shares of Kadmon from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Zacks Investment Research cut shares of Kadmon from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $9.35.

The firm has a market cap of $508.39 million, a PE ratio of -4.02 and a beta of 2.22. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock’s fifty day simple moving average is $2.96 and its two-hundred day simple moving average is $2.47.

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Investment Advisors LLC grew its holdings in Kadmon by 134.5% in the second quarter. Capital Investment Advisors LLC now owns 28,815 shares of the company’s stock worth $59,000 after purchasing an additional 16,525 shares during the period. GSA Capital Partners LLP grew its holdings in Kadmon by 143.5% in the second quarter. GSA Capital Partners LLP now owns 54,760 shares of the company’s stock worth $113,000 after purchasing an additional 32,268 shares during the period. Vanguard Group Inc. grew its holdings in Kadmon by 5.9% in the second quarter. Vanguard Group Inc. now owns 5,713,561 shares of the company’s stock worth $11,770,000 after purchasing an additional 320,710 shares during the period. BlackRock Inc. grew its holdings in Kadmon by 23.5% in the second quarter. BlackRock Inc. now owns 8,428,750 shares of the company’s stock worth $17,363,000 after purchasing an additional 1,605,568 shares during the period. Finally, Macquarie Group Ltd. purchased a new stake in Kadmon in the second quarter worth about $319,000. Institutional investors and hedge funds own 76.80% of the company’s stock.

Kadmon Company Profile (NYSE:KDMN)

Kadmon Holdings, Inc, a biopharmaceutical company, discovers, develops, and commercializes small molecules and biologics primarily for the treatment of inflammatory and fibrotic diseases. The company markets and distributes products in various therapeutic areas, including ribavirin products for chronic hepatitis C virus infection; and distributes products in various therapeutic areas, including tetrabenazine for the treatment of chorea associated with Huntington's disease.

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