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Vical Inc. Insiders Boost Shares after Company’s NASDAQ Listing Gets Upgrade
Posted by: Dianne Tordillo (IP Logged)
Date: January 17, 2013 11:20PM
Insiders of biopharmaceutical products company Vical Inc. (VICL) have announced purchasing a combined amount of more than 133,000 shares between three people, reported last week on GuruFocus Insider Buys; the purchases came soon after Vical announced that its listing on the Nasdaq has been upgraded to the highest listing title, Nasdaq Global Select Market.
Nasdaq-listed companies are classified under three tiers, primarily set apart by different levels of financial thresholds. The three tiers are: Global Select Market, Global Market and Capital Market.
Previously listed under the Nasdaq Global Market, Vical was rewarded the highest tier, Global Select Market, which would demand adhering to a very elaborate list of federal and income requirements, essentially proving that the company has reached a sufficient level of maturity.
“We are honored to be recognized by NASDAQ for our established record of sound management and fiscal responsibility," said Vijay B. Samant, Vical's President and CEO. "[We’re] pleased that Vical has joined the top tier of the NASDAQ Stock Market. We remain focused on building long-term value for shareholders through the development of novel biopharmaceutical products."
Samant was among the three insiders that stocked up on Vical’s shares recently. He bought 84,600 shares, priced at a penny per share. His holding amounted to almost 646,000 shares after the transaction.
Prior to this, Samant rarely exceeded 1,000 shares in purchases, nor has his trade activity in the company been as lively either. He only purchased once in 2011 and none in 2012.
As for the other two insiders, this year’s buys were both their first times trading company shares.
Executive Vice President Allain Rolland has been in the company since 2002, serving four years in his current title and 10 years as a senior vice president of product development. Rolland purchased 22,092 shares on Jan. 11.
Joining him was Senior Vice President and CFO Jill Marie Broadfoot, who has been with Vical since 2004, and purchased 22,092 shares.
Market capitalized at $300 million, Vical is a company that researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention of serious or life-threatening diseases. Some of its projects include vaccines and cancer therapeutics.
In its third quarter fiscal results released in November, Vical mentioned it expected its cash and investments to range between $18 million and $20 million for the full year of 2012. It also revealed that it declined in revenue, due to recognizing $25.1 million for a license revenue for one of its therapeutic vaccine projects.
Its Warning Signs indicate a declining operating margin and its day sales outstanding are building up. However, GuruFocus notes that the company has strong financial strength and its price is close to its one-year low. Vical is ranked 1 in Business Predictability.
Gurus who currently have stake in the company include John Rogers, John Burbank and Murray Stahl.
To view the rest of Vical’s Insider activity visit VICL: Insider Trades.
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Guru Discussed: John Burbank: Current Portfolio, Stock Picks
John Rogers: Current Portfolio, Stock Picks
Stocks Discussed: VICL,
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