John B. Payne, President and CEO of Zivo Bioscience, Inc. (NASDAQ:ZIVO), recently acquired a significant amount of the company's stock. According to a recent SEC filing, Payne purchased 6,343 shares of common stock at a price of $15.76 per share, totaling approximately $99,965. This acquisition increases Payne's direct ownership to 7,909 shares.
In addition to the common stock acquisition, Payne also exercised warrants to purchase 634 shares of common stock at a price of $15.765 per share. These transactions reflect Payne's continued investment in Zivo Bioscience, a company engaged in the development of biological products.
In other recent news, Zivo Bioscience, a Nevada-based biotech firm, has made significant strides in leadership and corporate governance. The company recently increased the size of its Board of Directors from four to five members, welcoming Laith Yaldoo to the team. Yaldoo, with his diverse background in electronic payments, telecommunications, retail, biotech, healthcare, and back-office management, is expected to provide valuable insights to the company.
In addition to board expansion, shareholders have approved key proposals such as the election of Nola E. Masterson as a Class II director, the appointment of BDO USA, LLP as the company’s independent registered public accounting firm, and the compensation of the company's executive officers. These decisions were made at the annual shareholder meeting, receiving substantial majority votes.
However, on the analyst front, Maxim (NASDAQ:MXIM) Group has downgraded Zivo Bioscience's shares from Buy to Hold due to the company's delisted status and capital constraints. The firm also adjusted Zivo Bioscience's financial outlook, lowering the 2024 revenue estimate while leaving the 2025 forecast unchanged. This adjustment reflects anticipated lower operating expenses and a higher expected share count. These are the recent developments concerning Zivo Bioscience.
InvestingPro Insights
John B. Payne's recent stock acquisition aligns with several positive trends for Zivo Bioscience (NASDAQ:ZIVO). According to InvestingPro data, ZIVO has demonstrated impressive growth, with a staggering revenue growth of 1364.69% in the last twelve months as of Q2 2024. This substantial increase suggests that the company's biological products are gaining traction in the market.
The CEO's investment decision appears to be well-timed, as ZIVO's stock has shown strong performance across various timeframes. InvestingPro Tips highlight that the stock has delivered a strong return over the last month, three months, and a large price uptick over the last six months. In fact, the 6-month price total return stands at an impressive 193.69%, while the year-to-date return is a remarkable 1566.67%.
Despite these positive indicators, investors should note that ZIVO is currently trading at a high revenue valuation multiple and is not profitable over the last twelve months. This suggests that the market has high expectations for future growth, which aligns with another InvestingPro Tip indicating that analysts anticipate sales growth in the current year.
For those interested in a more comprehensive analysis, InvestingPro offers 12 additional tips for ZIVO, providing a deeper understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.