Insider Buying: Greenland Mines Ltd. Common Stock (NASDAQ:GRML) CFO Acquires $136,080.00 in Stock

Key Points

• CFO Jeff Leblanc bought 14,000 GRML shares at an average price of $9.72, investing $136,080 and increasing his ownership by 14.52% to 110,406 shares.
• GRML shares rose $2.65 to $11.20 in mid-day trading, with volume reaching 1.6 million shares versus an average of 102,120; the stock has traded between $7.81 and $39.45 over the past year.
• Despite some institutional buying and increased hedge-fund ownership, analyst sentiment remains negative: the stock has a consensus “Sell” rating, and the company recently reported a quarterly loss of $1.50 per share.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Get Free Report) CFO Jeff Leblanc bought 14,000 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $9.72 per share, with a total value of $136,080.00. Following the completion of the transaction, the chief financial officer owned 110,406 shares in the company, valued at $1,073,146.32. This represents a 14.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Greenland Mines Ltd. Common Stock Stock Performance

Shares of GRML traded up $2.65 during mid-day trading on Tuesday, hitting $11.20. 1,605,544 shares of the company's stock were exchanged, compared to its average volume of 102,120. The stock's 50-day moving average is $0.39 and its 200-day moving average is $0.41. Greenland Mines Ltd. Common Stock has a fifty-two week low of $7.81 and a fifty-two week high of $39.45. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -35.00 and a beta of 7.13.

Greenland Mines Ltd. Common Stock (NASDAQ:GRML - Get Free Report) last announced its quarterly earnings data on Monday, August 17th. The company reported ($1.50) earnings per share for the quarter.

Hedge Funds Weigh In On Greenland Mines Ltd. Common Stock

A number of institutional investors and hedge funds have recently modified their holdings of GRML. Brummer Multi Strategy AB purchased a new stake in Greenland Mines Ltd. Common Stock during the 4th quarter worth about $175,000. Geode Capital Management LLC lifted its holdings in shares of Greenland Mines Ltd. Common Stock by 51.8% during the fourth quarter. Geode Capital Management LLC now owns 491,832 shares of the company's stock worth $142,000 after purchasing an additional 167,905 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Greenland Mines Ltd. Common Stock in the 4th quarter worth $126,000. Jane Street Group LLC acquired a new position in shares of Greenland Mines Ltd. Common Stock during the fourth quarter worth about $64,000. Finally, XTX Topco Ltd raised its stake in shares of Greenland Mines Ltd. Common Stock by 101.2% during the 4th quarter. XTX Topco Ltd now owns 160,569 shares of the company's stock worth $46,000 after buying an additional 80,768 shares in the last quarter. Institutional investors and hedge funds own 20.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GRML. Weiss Ratings lowered Greenland Mines Ltd. Common Stock from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Wall Street Zen raised Greenland Mines Ltd. Common Stock to a "sell" rating in a research report on Saturday, May 2nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

About Greenland Mines Ltd. Common Stock

Greenland Mines Ltd develops essential medicines for the treatment of chronic diseases - cancer, cardiovascular, and neurodegenerative disorders. The Company operates as a single reporting segment focused on developing essential medicines for these chronic diseases. The Company has acquired two licensed platforms: a generic drug portfolio and a biosimilar biologics platform that uses biologic therapies to treat cancer, and proprietary patented technologies involving melanocortin receptor-binding molecules and a gene therapy platform that introduces a therapeutic protein called Klotho inside the body to treat neurodegenerative diseases.

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