Vermillion, Inc. (NASDAQ: VRML)
Vermillion is having an overwhelmingly strong day in the market today. In fact, when the trading session opened, the stock was already trading in the green. From there, it went on a tremendous spike upward before correcting and finding it’s support still well in the realm of gains. Below, we’ll talk about what we’re seeing from VRML, why, and what we’ll be watching for ahead.
What We’re Seeing From VRML
As mentioned above, Vermillion is having an overwhelmingly strong day in the market today. At the opening bell, the stock was already trading slightly in the green. However, that didn’t last long as slight gains became massive ones early on. Nonetheless, after hitting an early morning peak, the stock corrected before finding support, still with nice gains. Currently (12:25), VRML is trading at $2.07 per share after a gain of $0.32 per share or 18.03% thus far today.
Why The Stock Is Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the gains on VRML. As soon as we received the alert, the CNA Finance team went to work to figure out exactly what was causing the movement. It took some digging to find the story, but we believe we found the reason for the gains.
The gains seem to be the result of excitement surrounding an SEC filing. Through the filing, investors learned that insider, Larry N. Feinberg just made a large purchase of the stock. In fact, he purchased 617,731 shares in a transaction dated February 17th. The average cost of the purchase came to $1.40 per share, bringing the total value of the insider buy to $864,823.40.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on VRML. After all, when an insider makes a large purchase on a stock, it shows confidence and can sometimes be a clue of positive news to come. Nonetheless, we’ll keep a close eye on the news surrounding the stock and continue to bring it to you as it breaks!
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