Lipocine Inc (LPCN) CEO Mahesh V. Patel Sells 6,000 Shares of Stock

Lipocine Inc (NASDAQ:LPCN) CEO Mahesh V. Patel sold 6,000 shares of Lipocine stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $3.48, for a total value of $20,880.00. Following the sale, the chief executive officer now directly owns 728,112 shares of the company’s stock, valued at $2,533,829.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Lipocine Inc (NASDAQ:LPCN) opened at $3.44 on Wednesday. Lipocine Inc has a 52 week low of $3.25 and a 52 week high of $5.33. The company has a market capitalization of $72.92, a price-to-earnings ratio of -3.62 and a beta of 1.93.

Several institutional investors have recently made changes to their positions in LPCN. Goldman Sachs Group Inc. acquired a new stake in shares of Lipocine during the second quarter worth $300,000. Federated Investors Inc. PA grew its stake in shares of Lipocine by 9.2% during the second quarter. Federated Investors Inc. PA now owns 88,083 shares of the specialty pharmaceutical company’s stock worth $354,000 after purchasing an additional 7,429 shares during the period. P.A.W. Capital Corp acquired a new stake in shares of Lipocine during the third quarter worth $397,000. Ameriprise Financial Inc. grew its stake in shares of Lipocine by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 155,600 shares of the specialty pharmaceutical company’s stock worth $626,000 after purchasing an additional 24,000 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Lipocine by 39.7% during the second quarter. Vanguard Group Inc. now owns 546,027 shares of the specialty pharmaceutical company’s stock worth $2,195,000 after purchasing an additional 155,110 shares during the period. 22.06% of the stock is owned by institutional investors and hedge funds.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Lipocine in a research note on Friday, December 8th.

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About Lipocine

Lipocine Inc is a specialty pharmaceutical company. The Company is focused on applying its oral drug delivery technology for the development of pharmaceutical products in the area of men’s and women’s health. Its primary development programs are based on oral delivery solutions for bioavailable drugs.

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