In a recent move, Eric Weisblum, the CEO and President of Silo Pharma, Inc. (OTC:SILO), has increased his stake in the company through the purchase of additional shares. The transactions, which took place over two consecutive days, saw Weisblum buy a total of 1,000 shares of common stock, investing $1,988.
On April 4, 2024, Weisblum acquired 600 shares at a weighted average price of $1.96, with individual transactions occurring in a price range from $1.96 to $1.97. The following day, he added another 400 shares to his holdings, this time at a weighted average price of $2.03, with sales executed between $2.00 and $2.05.
These transactions have brought Weisblum's total owned shares in Silo Pharma to 175,432, as indicated by the post-transaction amounts detailed in the SEC filings. The purchase demonstrates a continued commitment by the CEO to the company, which has a diverse history, having formerly been known as Uppercut Brands, Inc., Point Capital, Inc., and Gold Swap Inc.
Investors often monitor insider buying as it may reflect an executive's confidence in the company's future prospects. With Weisblum at the helm as both CEO and President, his recent stock purchases could signal positive internal expectations for Silo Pharma's performance.
InvestingPro Insights
Following the CEO's recent stock purchases, Silo Pharma, Inc. (OTC:SILO) has shown notable financial and market metrics that could be of interest to investors. With a market capitalization of just 5.83 million USD, the company is relatively small, yet it holds a significant gross profit margin of 91.9% as of the last twelve months ending Q4 2023. This impressive figure suggests that Silo Pharma is highly efficient in its operations, retaining a large portion of its revenue as gross profit.
Investors might also be intrigued by the company's stock performance, which has seen a strong return over the last month, increasing by 28.06%, and over the last three months, with a rise of 30.1%. This trend is further highlighted by a 7.84% increase in the stock price over the last week.
Two InvestingPro Tips that could further inform potential investors are the aggressive share buybacks by management and the company's liquidity position, where liquid assets exceed short-term obligations. These actions reflect a proactive approach to capital management and a solid financial footing, which might be reassuring to shareholders.
For those looking to delve deeper into Silo Pharma's financials and stock performance, there are additional InvestingPro Tips available. By visiting https://www.investing.com/pro/SILO, investors can uncover a wealth of information, including analyst expectations and the company's profitability outlook. And for those ready to enhance their investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where 12 more tips await to guide your investment decisions.
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