Insider Trade at Kips Bay Medical Inc (KIPS): Large Shareholder Purchases 50,001 Shares

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Kips Bay Investments, LLC, large shareholder at Kips Medical Inc (NASDAQ:KIPS), acquired through an open market transaction last September 4th 50,001 shares of Common Stock. These were bought at a price of $0.36 each, for a total value of $17,750. Following the filing, the major shareholder directly owns 6,789,056 shares and indirectly owns 97,005 shares held by  principal equity holder of Kips Bay Investments, LLC. This was its first transaction of the year.

On the opposite sidewalk, Kips Medical Inc (NASDAQ:KIPS) major hedge fund investors on record have decided to reduce their exposure to the $11.89 million market cap medical device company focused on developing, manufacturing and commercializing its external saphenous vein support technology (eSVS MESH) for use in coronary artery bypass grafting (CABG) surgery. James A. Silverman’s fund, Opaleye Management –owner of 772,031 shares- has done so by 1%. In the meantime, Ken Griffin’s Citadel Investment Group –owner of 43,38 shares- has determined to decrease its participation in the company by 7%.

Disclosure: Pamela Gaviño holds no position in any of the stocks or funds mentioned.

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