OHR Pharmaceutical Inc (OHRP) CEO Acquires 350,358 Shares – Stock Falls in Trading Today

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Shares of OHR Pharmaceutical Inc (NASDAQ:OHRP) are down big today, despite the release of a statement of changes in beneficial ownership that shows CEO, Scott Slakter acquiring 350,358 shares of common stock on January 7, with a par value of $0.0001 per share.

“SKS Ocular I LLC directly owns the shares of Common Stock. On May 30, 2014, the Issuer completed an ophthalmology assets acquisition of SKS Ocular LLC and SKS Ocular I LLC,” OHR Pharmaceutical Inc (NASDAQ:OHRP) explained. “Pursuant to the acquisition agreement, among other things, SKS Ocular I LLC is eligible to receive additional shares of Common Stock in three contingent milestone payments. Milestone 1 has been met and on December 15, 2015, the Issuer issued 497,859 shares of Common Stock to SKS Ocular I LLC. The Reporting Person has investment and voting power with respect to the Common Stock held by SKS Ocular 1 LLC. Therefore, the Reporting Person may be deemed to beneficially own the shares of Common Stock beneficially owned by SKS Ocular 1 LLC. The Reporting Person disclaims any beneficial ownership of the Common Stock directly owed by SKS Ocular I LLC except to the extent of his pecuniary interest therein.”

The stock decreased 7.52% or $0.34 on January 12, hitting $4.18. About 619,863 shares traded hands or 14.49% up from the average. OHRP has risen 64.36% since June 8, 2015 and is uptrending. It has outperformed the S&P500 by 71.85%.

The institutional sentiment decreased to 0.49 in Q2 2015. It’s down 0.42, from 0.91 in 2015Q2. The ratio is negative, as 21 funds sold all their OHR Pharmaceutical Inc shares they owned while 16 reduced their positions. 4 funds bought stakes while 14 increased their total positions. Institutions now own 2.70 million shares which is 55.22% less than the previous share count of 6.03 million in 2015Q2.

Garrison Bradford & Associates Inc holds 0.28% of its total portfolio in OHR Pharmaceutical Inc, equating to 93,400 shares. Knoll Capital Management Lp owns 205,000 shares representing 0.24% of their total US portfolio. Moreover, Leisure Capital Management has 0.2% of their total portfolio invested in the company, equating to 66,596 shares. The West Virginia-based Hoxton Financial Inc. has a total of 0.11% of their portfolio invested in the stock. Cutter & Co Brokerage Inc., a Missouri-based fund reported 53,275 shares owned.

Ohr Pharmaceutical Inc is a biotechnology company. The company has a market cap of $136.28 million. The Firm is engaged in the development of two products, OHR/AVR118 for the treatment of cancer cachexia (multi-symptom wasting disorder) and Squalamine for the treatment of the wet form of age-related macular degeneration (AMD) using an eye drop formulation. It currently has negative earnings. The Firm conducts clinical testing of OHR/AVR118 for the treatment of cancer cachexia and the Squalamine eye drop program for the treatment of wet-AMD.

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