In a recent move that signals confidence in Zivo Bioscience, Inc. (OTCMKTS:ZIVO), Director Christopher D. Maggiore purchased shares worth $29,999. The transaction, which took place on June 12, 2024, involved the acquisition of 3,764 shares at a price of $7.97 each.
This purchase comes on the heels of another transaction on June 11, where Maggiore was awarded 6,273 shares of common stock at no cost. Following these transactions, Maggiore now directly owns a total of 465,027 shares in the company.
Zivo Bioscience, based in Nevada and operating in the biological products space, has been the subject of investor attention, and transactions of this nature are often seen as a positive sign by market watchers. The company's stock, traded under the symbol ZIVO, represents a segment of the industry focused on health and wellness products.
Investors typically monitor insider buying as it can indicate executives' belief in the company's future performance. While the reasons for Maggiore's purchase were not disclosed, such investments are often viewed as a strong vote of confidence in the company's prospects.
The details of these transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides insights into the trading activities of a company's insiders. It is worth noting that insider transactions are subject to strict regulatory scrutiny to ensure transparency and fairness in the market.
As Zivo Bioscience continues its operations, investors and stakeholders will likely keep a close eye on insider transactions for clues about the company's trajectory and the conviction of its leaders in its strategy and products.
In other recent news, Zivo Bioscience, a Nevada-based biotech firm, has had several significant developments. During their recent annual shareholder meeting, key proposals were approved, 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 compensation of the company's named executive officers. In another development, Maxim Group downgraded Zivo Bioscience's stock rating from Buy to Hold, citing the company's delisted status and capital constraints. The firm also removed the previous $12.00 price target for Zivo Bioscience's shares. The company's 2024 revenue estimate was revised downward based on Q1 2024 results and subsequent expectations for the firm's financial performance. However, the 2025 revenue forecast remains unchanged. Maxim Group also adjusted its GAAP loss per share estimates for 2024 and 2025, reflecting anticipated lower operating expenses and a higher expected share count. These recent developments highlight the operational and financial challenges Zivo Bioscience is currently facing.
InvestingPro Insights
Following the insider transactions by Director Christopher D. Maggiore, Zivo Bioscience, Inc. (OTCMKTS:ZIVO) appears to be under the microscope of investors seeking to gauge the company's potential. With a market capitalization of 26.2 million USD and recent share price movements, the company presents a fascinating case for those interested in the biological products sector.
InvestingPro Tips suggest that while analysts are anticipating sales growth this year for Zivo Bioscience, the stock has been characterized by high price volatility. Additionally, the company has been operating with a moderate level of debt and is considered a niche player in its industry. It's noteworthy that Zivo Bioscience has not been profitable over the last twelve months, and the price has experienced significant fluctuations, including a large uptick over the past six months and a substantial drop over the last year.
Key metrics from InvestingPro Data reveal that Zivo Bioscience has a negative P/E Ratio of -3.7 as of the last twelve months ending Q1 2024, indicating that the company is currently unprofitable. The company's revenue for the same period stands at 0.06 million USD, with a gross profit margin of 38.05%. Despite these challenges, the six-month price total return is an impressive 436.24%, though the one-year price total return reflects a decrease of 51.4%.
For investors intrigued by these dynamics, additional insights are available. There are 9 more InvestingPro Tips for Zivo Bioscience, which can be explored further at Investing.com/pro/ZIVO. Those interested in a comprehensive analysis can take advantage of the exclusive offer by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
The recent insider purchases may indeed signal confidence in the company's direction, but with the additional context provided by InvestingPro, stakeholders can make more informed decisions considering both the opportunities and risks associated with Zivo Bioscience.
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