Epirus Biopharmaceuticals Inc (NASDAQ:EPRS) shares are trading up significantely today on very heavy volume, even though the company has not released any big news. However, Epirus Biopharmaceuticals Inc (NASDAQ:EPRS) CEO Munshi Amit has made an insider buy of 8069 shares at $2.87 each, valued at $23,158.03 at the time of purchase. Interestingly enough, this is the third large insider purchase of company shares since lasts Wednesday, when Amit also purchased 13,190 shares at $4.07 each and Chief Business Officer Vincent Aurentz purchased 2800 shares at $3.85 each.
Epirus Biopharmaceuticals Inc (NASDAQ:EPRS) shareholders are suggesting that the insider buying, combined with large volume today could point to a possible acquistion sometime soon. This is all just speculation but shares have blown above many of the moving averages, as technicals indicate more potential increases.
The stock is up 26.43% or $0.74 following the news, hitting $3.54 per share. About 1.32 million shares traded hands or up 1093.90% from the average. EPRS has declined 53.02% since May 13, 2015 and is currently downtrending. It has underperformed the S&P500 by 49.34%.
EPIRUS Biopharmaceuticals, Inc. is a commercial-stage biopharmaceutical company. The company has a market cap of $75.20 million. The Firm is engaged in developing, manufacturing, and commercializing biosimilar therapeutics (biosimilars). It currently has negative earnings. The Firm has a pipeline of operationally synergistic monoclonal antibodies (MAbs) in inflammation and immunology.