Biolase, Inc. (NASDAQ:BIOL) shares were up 7.7% during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $0.43 and last traded at $0.42. Approximately 1,446,100 shares were traded during mid-day trading, an increase of 821% from the average daily volume of 157,019 shares. The stock had previously closed at $0.39.
Specifically, major shareholder Larry N. Feinberg bought 12,545,615 shares of Biolase stock in a transaction that occurred on Tuesday, December 5th. The stock was acquired at an average price of $0.43 per share, for a total transaction of $5,394,614.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.10% of the stock is currently owned by company insiders.
Separately, ValuEngine upgraded shares of Biolase from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd.
Biolase Company Profile
BIOLASE, Inc (BIOLASE) is a medical device company that develops, manufactures, markets and sells laser systems in dentistry and medicine. The Company markets, sells, and distributes dental imaging equipment, including cone beam digital x-rays and computer-aided design (CAD)/computer-aided manufacturing (CAM) intra-oral scanners, in-office, chair-side milling machines and three-dimensional (3-D) printers.
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