Iambic Therapeutics (NASDAQ:IAM) Stock: Insider Evan Lockwood Rachlin Purchases 718,750 Shares

Iambic Therapeutics, Inc. (NASDAQ:IAM) Director Evan Lockwood Rachlin acquired 718,750 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $11,500,000.00. Following the completion of the acquisition, the director directly owned 2,588,248 shares in the company, valued at approximately $41,411,968. This represents a 38.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Iambic Therapeutics Trading Down 31.4%

Shares of NASDAQ IAM traded down $7.47 during midday trading on Monday, reaching $16.34. 2,381,958 shares of the stock traded hands, compared to its average volume of 2,673,314. Iambic Therapeutics, Inc. has a one year low of $14.10 and a one year high of $25.00.

Iambic Therapeutics Company Profile

Iambic Therapeutics, Inc (NASDAQ: IAM) is a clinical-stage biotechnology company focused on discovering and developing novel medicines, with an emphasis on small-molecule therapies. The company combines artificial intelligence, computational modeling and experimental drug discovery methods to identify potential drug candidates and accelerate the development process.

Iambic’s technology platform is designed to support multiple stages of pharmaceutical research, including target evaluation, molecule design, compound testing and optimization.