Mangoceuticals Inc. ($MGRX)
Known as MangoRx, it made its IPO at the end of the first quarter and only recently managed to experience an uptick in trading action. The men’s health and wellness company leverages telemedicine to deliver products to customers. Recent catalysts include new viral advertisements and inclusion on popular retail trading platforms like Webull.
The company has also begun online direct sales using DataDojo AI and its customer data platform.
What’s going on with MGRX stock insiders? In a filing earlier this quarter, Mangoceuticals’ CEO Jacob Cohen reported purchasing 275,000 shares of MGRX stock at an average price of $1. According to the footnotes of the filing, these were purchased via a private transaction.
P3 Health Partners Inc. ($PIII)
Shares of P3 Health stock have been on the radar since the first quarter of the year. This is when, coincidentally, insiders were buying shares of PIII stock. At the time, Michael Balkin, a 10% owner and manager of Foresight Sponsor Group, purchased 15,000 shares. According to footnotes in Form 4, “These 15,000 Shares (as defined below) were acquired in a single transaction through a self-directed individual retirement account of Mr. Balkin.”
Last year, P3 Health Partners went public via a SPAC transaction with Foresight Acquisition Corp. (formerly FORE). But like many of these types of transactions, the retail market saw a substantial decline to lows this year of $0.70. Nevertheless, the market continues watching P3 emerge as a player in the population health management industry.
The company expects to do between $1.2 billion and $1.25 billion this year. P3 provides primary care providers with support of care coordination and administrative services. The main focus is improving patient outcomes at a lower cost. In partnering with local providers, P3’s team creates “an enhanced patient experience by navigating, coordinating, and integrating the patient’s care within the healthcare system.”
Kinnate Biopharma Inc. ($KNTE)
Biotech companies like Kinnate have gained attention in the market thanks to their novel pipelines. However, the recent cooldown in high-growth market segments hasn’t played out favorably for some. Kinnate has experienced a downturn but recently saw an uptick in momentum following new developments. KNTE stock slumped from over $7 to below $2.40. Since reaching those lows, Kinnate has firmly bounced.
The initial dip came after the company announced trial data and the addition of new drug candidates to its oncology pipeline. Even with the lackluster reaction in the market, many analysts still hold price targets significantly higher than current retail prices. Wedbush cited concerns over the cost of capital and the potential market share of Kinnate’s exarafenib. However, the first still has a $25 target. Goldman Sachs, which also lowered its target, still maintains a Buy rating with a price forecast of $26.
Terawulf Inc. ($WULF)
Rising Bitcoin prices have given a boost to sector stocks. Thanks to Terawulf’s involvement within the space, that sentiment has carried over to WULF stock. It is a Bitcoin mining facility operator leveraging low-carbon energy production platforms. It aims to capitalize on the new “green” mining opportunity being created thanks to a growing interest in environmentally friendly digital mining operations.
TeraWulf announced the full deployment of 50 MW at its Nautilus Bitcoin mining facility was ahead of schedule.
TeraWulf also recently announced that it would participate in investor events. Coupled with underlying industry momentum, it seems to be a focus for traders in the stock market this week. Meanwhile, CEO Paul Prager’s 100,000 share purchase earlier this quarter remains a focus. He bought WULF stock at an average price of $1.373 via Heorot Power Holdings. Prager is the sole manager of the holding company and is named as a beneficial owner.
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