Key Points
- Director Evan Lockwood Rachlin purchased 718,750 shares of Iambic Therapeutics at $16.00 each, totaling $11.5 million.
- The transaction increased Rachlin’s direct ownership by 38.45% to 2,588,248 shares, valued at approximately $41.4 million.
- Iambic Therapeutics is a clinical-stage biotechnology company using artificial intelligence, computational modeling and experimental methods to develop small-molecule medicines.
Iambic Therapeutics, Inc. (NASDAQ:IAM - Get Free Report) Director Evan Lockwood Rachlin purchased 718,750 shares of the company's stock in a transaction dated Friday, October 16th. The shares were bought at an average price of $16.00 per share, for a total transaction of $11,500,000.00. Following the completion of the transaction, the director directly owned 2,588,248 shares in the company, valued at approximately $41,411,968. This trade represents a 38.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Iambic Therapeutics Stock Performance
Shares of NASDAQ IAM opened at $16.34 on Tuesday. Iambic Therapeutics, Inc. has a 12-month low of $14.10 and a 12-month high of $25.00.
Iambic Therapeutics Company Profile
(
Get Free Report)
Iambic Therapeutics, Inc (NASDAQ: IAM) is a clinical-stage biotechnology company focused on discovering and developing novel medicines, with an emphasis on small-molecule therapies. The company combines artificial intelligence, computational modeling and experimental drug discovery methods to identify potential drug candidates and accelerate the development process.
Iambic's technology platform is designed to support multiple stages of pharmaceutical research, including target evaluation, molecule design, compound testing and optimization.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
