Zivo Bioscience, Inc. (OTCMKTS:ZIVO) director Christopher D. Maggiore has recently increased his stake in the company, purchasing shares valued at approximately $16,700. The transaction, which took place on July 26, 2024, involved Maggiore acquiring 2,080 shares of common stock at a price of $8.05 each.
This latest purchase by Maggiore, who is also a ten percent owner of the company, demonstrates his continued confidence in Zivo Bioscience's prospects. Following this acquisition, Maggiore now holds a total of 467,107 shares of common stock in the company, solidifying his position as a significant shareholder.
Zivo Bioscience, headquartered in Bloomfield Hills, Michigan, operates in the biological products industry, excluding diagnostic substances. The company, formerly known as Health Enhancement Products Inc., is known for its focus on the development and commercialization of natural bioactive compounds for health and wellness.
Investors and market watchers often pay close attention to insider transactions such as Maggiore's recent purchase, as they can provide insights into the sentiments of company executives and major shareholders regarding the firm's future performance.
The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency into the trading activities of the company's insiders. It's worth noting that such filings are a routine part of compliance with SEC regulations and are closely monitored by investors seeking to understand the actions of company insiders.
Zivo Bioscience's shares are traded under the ticker symbol ZIVO on the OTCMKTS exchange, where investors can follow the company's stock performance and consider the implications of insider transactions such as those undertaken by Maggiore.
In other recent news, Zivo Bioscience has made notable strides in its corporate structure and financial outlook. The Nevada-based biotech company expanded its Board of Directors with the appointment of Laith Yaldoo, a seasoned professional with a diverse background in various industries. Shareholders of Zivo Bioscience have also made significant decisions, including the election of Nola E. Masterson as a Class II director, the appointment of BDO USA, LLP as the company’s independent registered public accounting firm, and the approval of the compensation of the company's named executive officers.
However, the company experienced a downgrade in its stock rating by Maxim Group from Buy to Hold due to its delisted status and capital constraints. Despite recognizing the potential of Zivo Bioscience's proprietary algal biomass, the firm removed the previous $12.00 price target for the company's shares. Furthermore, Maxim Group adjusted Zivo Bioscience's financial outlook, lowering the 2024 revenue estimate while leaving the 2025 forecast unchanged.
The firm also narrowed its GAAP loss per share estimates for both 2024 and 2025, reflecting anticipated lower operating expenses and a higher expected share count. These developments reflect the recent changes in Zivo Bioscience's corporate and financial landscape.
InvestingPro Insights
Zivo Bioscience, Inc.'s recent insider activity, with director Christopher D. Maggiore's purchase of shares, has signaled a potential vote of confidence in the company's future. To further understand Zivo Bioscience's financial health and market performance, here are some key metrics and insights from InvestingPro:
- The company's market capitalization stands at $28.15 million, reflecting its size within the biological products industry.
- Zivo Bioscience's Price to Earnings (P/E) ratio is currently negative at -2.38, suggesting that the company is not profitable as of the last twelve months ending Q1 2024.
- Revenues for the same period were reported at $0.06 million, with a gross profit margin of 38.05%, indicating the company's ability to retain a portion of sales after accounting for the cost of goods sold.
Two InvestingPro Tips that are particularly relevant to the article and Zivo Bioscience's current situation include:
- Analysts anticipate sales growth in the current year, which may align with the positive sentiment suggested by Maggiore's share purchase.
- The stock generally trades with high price volatility, which could be a factor for investors to consider when evaluating the potential risks and rewards associated with Zivo Bioscience.
To gain deeper insights and access additional InvestingPro Tips, such as the company's short-term obligations versus liquid assets and its valuation multiples, investors can visit InvestingPro for comprehensive analysis. There, users can find a total of 8 InvestingPro Tips that can help in making more informed investment decisions.
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