Selecta Biosciences News: SELB Stock Shoots 9% Higher on Insider Buying Buzz

Advertisement

Selecta Biosciences (NASDAQ:SELB) news for Monday includes insider buying sending SELB stock higher.

a business man whose suit is comprised of numbers and charts standing in an office

Source: Shutterstock

The insider buying news for Selecta Biosciences comes from the Board of Directors member Timothy Springer. The director picked up quite a few shares of SELB stock in a series of transactions starting last Wednesday.

The first of these transactions saw TAS Partners, of which Springer is a managing member, buying up 880,000 shares of SELB stock for an average price of $2.4994 per share. These shares are considered indirect ownership of SELB stock and were purchased on Wednesday.

The Selecta Biosciences continues with TAS Partners picking up 1,770,204 shares of SELB stock for an average price of $2.6306 per share. Just like before, this is indirect ownership of shares but the purchasing took place on Thursday.

Finally, we have TAS Partners grabbing an additional 994,488 shares of SELB stock for an average price of $2.7147 per share. This transaction took place on Friday and is, again, indirect ownership of the stock.

All in all, Timothy Springer now owns a total of 23,936,974 shares of SELB stock. This has his stake in the company sitting at 22.3%. He owns roughly 7.29 million of these shares directly. His indirect ownership includes TAS Partners’ 14.48 million shares, as well as his wife’s roughly 86,000 shares of SELB stock.

Springer joined the Selecta Biosciences’ Board of Directors in 2016. He’s also worked alongside the company as a scientific advisor starting in 2008.

SELB stock was up 8.7% as of Monday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/10/selecta-biosciences-insider-buying-news-sends-selb-stock-higher/.

©2024 InvestorPlace Media, LLC