Barrons - Bristol Myers Stock Is Slumping. One Director Bought Up Shares. | BMY Message Board Posts


Bristol-Myers Squibb Co.

  BMY website

BMY   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board
Msg  12067 of 12445  at  12/2/2023 9:59:58 AM  by

zippypie

The following message was updated on 12/2/2023 10:05:15 AM.

Barrons - Bristol Myers Stock Is Slumping. One Director Bought Up Shares.

 
 

Bristol Myers

BMY

1.46%

Squibb stock recently dropped to a multiyear low, and the pharmaceutical company’s lead independent director bought shares on the open market for the first time in years.

In April, Bristol Myers announced CEO Giovanni Caforio would step down

Nov. 1. His successor, Christopher Boerner, will add the chairman title

on April 1, 2024. Shares have slipped steadily this year, but the drop was particularly sharp on Monday Nov. 20 after Bristol Myers said the Food and Drug Administration delayed its decision on Abecma, a gene therapy treatment it developed with 2seventy Bio, that was initially expected on Dec. 16. Abecma is currently approved for use after four or more prior therapies.

Bristol Myers stock fell to as a low as $48.42 on Nov. 20, a level shares haven’t traded at since March 2020. That day, director Theodore R. Samuels paid $423,400 for 8,500 Bristol Myers shares, an average price of $49.81 each. According to a form he filed

with the Securities and Exchange Commission, Samuels now owns 35,500 Bristol Myers shares.

Bristol Myers didn’t respond to a request to make Samuels available for comment. A former global equity portfolio manager at investment firm Capital Group, Samuels has been on Bristol Myers’ board since February 2017

He serves on the company’s audit committee, and chairs the committee on directors and corporate governance.

Samuels last bought Bristol Myers stock on the open market in May 2019, paying $236,500 for 5,000 shares about 47.29..


 


     e-mail to a friend      printer-friendly     add to library      
|  
Recs: 6  
   Views: 0 []
Previous Message  Next Message    Post Message    Post a Reply return to message boardtop of board




Financial Market Data provided by
.
Loading...