Opaleye Management Inc., a significant shareholder in SANUWAVE Health, Inc. (NASDAQ:SNWVD), has increased its stake in the company through a series of recent stock purchases. According to a recent SEC filing, Opaleye Management acquired a total of 27,868 shares of SANUWAVE Health common stock. These transactions, executed over several days, amounted to a total investment of $438,902.
The purchases were made at prices ranging from $15.1963 to $17.50 per share. Following these acquisitions, Opaleye Management now holds a substantial number of shares through direct and managed accounts. The transactions reflect Opaleye's ongoing investment interest in SANUWAVE Health, a company specializing in surgical and medical instruments.
This series of transactions highlights Opaleye Management's strategic positioning within SANUWAVE Health, as they continue to manage and expand their investment portfolio.
InvestingPro Insights
Opaleye Management's recent investment in SANUWAVE Health aligns with several key metrics and trends highlighted by InvestingPro. The company's stock has shown remarkable performance, with InvestingPro data indicating a 191.5% price total return over the past year and a staggering 225.13% year-to-date return. This strong performance is further underscored by the 153.48% return over the last three months, suggesting a significant upward momentum that may have attracted Opaleye's increased investment.
Despite the recent positive trajectory, an InvestingPro Tip notes that the stock has taken a big hit over the last week, with data showing a 9.43% decline. This recent dip might have presented a buying opportunity for Opaleye Management, potentially explaining the timing of their purchases.
SANUWAVE Health's financial metrics present a mixed picture. While the company boasts impressive revenue growth of 37.43% over the last twelve months, an InvestingPro Tip reveals that it is not profitable over the same period. This is reflected in the negative P/E ratio of -13.01 and a return on assets of -17.07%.
For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips that could provide valuable insights into SANUWAVE Health's financial health and market position.
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