Wahlstrom Mats, a director and significant shareholder of TriSalus Life Sciences, Inc. (NASDAQ:TLSI), recently acquired 5,000 shares of the company's common stock. The shares were purchased at a weighted average price of $4.55 per share, totaling approximately $22,750. Following this transaction, Mats holds 15,727 shares directly. Additionally, Mats has indirect ownership of 1,254,259 shares through Leonard Capital LLC and 1,370,028 shares via HW Investment Partners, LLC, where he shares voting and investment discretion.
In other recent news, TriSalus Life Sciences has been the focus of several analyst updates and significant developments. Canaccord Genuity (TSX:CF) reduced its price target for TriSalus shares to $11.00, while maintaining a Buy rating, following the company's Q3 revenue report of $7.3 million. The company has also reaffirmed its fiscal year 2024 guidance, anticipating over 50% revenue growth and targeting between $28 million and $30 million.
In addition, TriSalus announced the launch of the TriNav Large system, a medical device expected to increase case coverage by 30%. The company is also considering partnerships for the development of PERIO-01, while awaiting the outcomes of the delayed PERIO-03 study.
Roth/MKM initiated coverage of TriSalus with a Buy rating and a price target of $11.00, highlighting the potential of the company's TriNav catheter and Pressure Enabled Drug Delivery (PEDD) technology. Northland also initiated coverage with an Outperform rating, citing the potential of the TriNav system to become a standard of care for certain medical procedures.
TriSalus has also welcomed Dr. Riad Salem, an expert in interventional radiology, to its Scientific Advisory Board and Liselotte Hyveled, a veteran in pharmaceutical research and development, to its Board of Directors. These are just a few of the recent developments that indicate the company's potential for growth and strategic initiatives in the oncology sector.
InvestingPro Insights
The recent insider purchase by Wahlstrom Mats aligns with some intriguing financial metrics for TriSalus Life Sciences, Inc. (NASDAQ:TLSI). According to InvestingPro data, the company has demonstrated impressive revenue growth, with a 67.9% increase in the last twelve months as of Q3 2024. This strong top-line performance is complemented by a remarkable gross profit margin of 87.1% for the same period, underscoring the company's efficiency in its core operations.
However, investors should note that TriSalus is currently not profitable, with a negative operating income margin of -167.69%. This is reflected in an InvestingPro Tip which indicates that the company is quickly burning through cash. Despite this, another InvestingPro Tip highlights that TriSalus's liquid assets exceed its short-term obligations, suggesting a degree of financial stability in the near term.
The stock has shown significant volatility, with a 23.43% return over the last week, contrasting with a -46.39% year-to-date return. This recent uptick could be related to the insider purchase, potentially signaling confidence in the company's prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 5 additional tips for TriSalus Life Sciences, providing deeper insights into the company's financial health and market position.
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