Ronin Capital, Llc is Buying Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) reported that Ronin Capital, Llc. has picked up 95,059 of common stock as of 2017-04-17.

The acquisition brings the aggregate amount owned by Ronin Capital, Llc. to a total of 95,059 representing approximately 5.8% stake in the company.

For those not familiar with the company, Peregrine Pharmaceuticals, Inc. (Peregrine) is a biopharmaceutical company. The Company operates through two segments: Peregrine, which is engaged in the research and development of monoclonal antibodies for the treatment of cancer, and Avid, which is engaged in providing contract manufacturing services for third party customers on a fee-for-service basis while also supporting its internal drug development efforts. Bavituximab is its lead immunotherapy candidate. Bavituximab is a monoclonal antibody that targets and binds to phosphatidylserine (PS), a immunosuppressive molecule that is usually located inside the membrane of healthy cells, but then flips and becomes exposed on the outside of cells in the tumor microenvironment, causing the tumor to evade immune detection. The Company’s subsidiary is Avid Bioservices, Inc. (Avid). Avid provides integrated current good manufacturing practices (cGMP) services from cell line development to commercial biomanufacturing.

A glance at Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM)’s key stats reveals a current market capitalization of 158.77 Million based on 297.71 Million shares outstanding and a price at last close of 0.546 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2012-03-14, Swartz picked up 16,000 at a purchase price of $0.62. This brings their total holding to 126,000 as of the date of the filing.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Peregrine Pharmaceuticals Inc. (NASDAQ:PPHM) as things move forward to see if its progress aligns with these transactions.

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