Shares of VirnetX Holding Corporation (NYSEMKT:VHC) are up big today after news broke about an insider purchase and the release of their Gabriel Collaboration Suite on all major operating systems.
Gabriel Collaboration Suite, which is an integrated suite of seure communication apps is now available on Windows, Mac OS X, Linux, iOS and Android operating systems.
“We are very excited to be able to offer Gabriel on all the major operating systems,” said Dr. Robert Short, VirnetX Chief Technical Officer and Chief Scientist. “Now just about anyone can use Gabriel to protect their privacy by communicating securely. The Gabriel app is available to download from our Gabriel website, the App Store or Google Play™.”
In addition to this news, Virnetx’s director, Robert D Short III has made an insider purchase of shares. This announcement has been made, and the transactions complete on ovember 25 and November 27, 2015. Short acquired 1557 shares on November 25 and an additional 5440 shares on November 27 at a price of $2.70 per share for a total price of $18,891.90.
The stock is up 26.92% or $0.7 after the news, hitting $3.3 per share. About 204,434 shares traded hands. VHC has declined 60.90% since April 28, 2015 and is downtrending. It has underperformed by 60.01% the S&P500.
VirnetX Holding Corporation is an Internet security software and technology Company with patented technology for secure communications including 4G LTE security. The company has a market cap of $179.09 million. The Company’s software and technology solutions, including its secure domain name registry and GABRIEL Connection Technology, are designed to facilitate secure communications and provide the security platform required by Internet applications, such as instant messaging , voice over Internet protocol (VoIP), mobile services, streaming video, file transfer, remote desktop and machine-to-machine (M2M) communications. It currently has negative earnings. The Company’s portfolio is primarily focused on securing communications over the Internet, as well as related services, such as the establishment and maintenance of a secure domain name registry.