Sedar filings HINT at inconclusive evidence (more testing)?I conducted a review of the insider buying from February 15th 2024 to date.
The date of February 15th is when there were leaks of one patient doing well, followed up later with free clinical trials to placebo group.
These two hints pointed to a success.
However when I looked at the sedar insider filings I was clearly very disappointed as the corporate body language displayed is one of a lack of greed = lack of confidence = inconclusive results.
I will give examples. One insider sold for $ 450,000 worth of shares and only bought back $ 100,000. Another bought shares just on the exercise of option. A great majority of others bought shares in quantities that normal retail shareholders would buy (ie: +/- 10,000 shares, +/- 20,000 shares, +/- 40,000 shares). The biggest buys were from top management at +/- 150,000 shares.
I remember when I was in Dendreon company and they were waiting for explosive results, insiders were loading up in the millions of shares and so were institutions despite the rumour going around that results would fail, everyone was buying like crazy.
Here buying is to be desired. Now they hire a PR firm. Why? If results are great they will speak to themselves. You do not need a PR.
I think financing was was the key hint as greed would have dictated that you do an offering after the results when stock is $ 30. If you do it at $2.35 it means that you are not confident and do not want to take the risk. It also means that you see this as the high.
My view is that results are INCONCLUSIVE, need more testing as one person getting better is insufficent.
Remember this is my personal opinion, I could be totally wrong in my analysis. I have no position in this stock either up or down and, am not paid by anyone. I am not giving investment advice either. Just a retail investor with a curiousity peak into NVGN and sharing an opinion.
If I do see something that convinces me that results are positive then I will certainly jump in, but to me it looks like more of a disappointment at this point.
Good Luck to all of you.