Form 4: Opaleye Management, a 10% Owner and Director, Sells Over 30,000 Shares of Harrow, Inc. Stock

Opaleye Management Inc., a significant shareholder and director of Harrow, Inc., reported the sale of 30,204 shares of common stock across two transactions in early June 2025.

Summary

• Opaleye Management Inc., identified as both a Director and a 10% Owner of Harrow, Inc. (HROW), filed a Form 4 disclosing sales of common stock.
• On June 9, 2025, Opaleye Management Inc. sold 15,204 shares of Harrow, Inc. common stock at a weighted average price of $30.3732 per share, with prices ranging from $30.09 to $31.32.
• On June 10, 2025, an additional 15,000 shares were sold at a weighted average price of $30.8022 per share, with prices ranging from $30.515 to $31.235.
• These sales were conducted through a separately managed account, reducing the beneficial ownership in that account from 105,000 shares to 90,000 shares after the second transaction.
• Opaleye Management Inc. also beneficially owns 3,815,000 shares indirectly through Opaleye, L.P.
• The total number of shares sold across these two transactions amounts to 30,204 shares.

Sentiment

Score: 3

Explanation: The sentiment is negative due to significant insider selling by a 10% owner and director, which can signal a lack of confidence in the company's future prospects or valuation.

Negatives

• A significant shareholder and director, Opaleye Management Inc., sold 30,204 shares of Harrow, Inc. common stock over two days.
• Insider selling, especially by a 10% owner and director, can be perceived by the market as a negative signal regarding the company's future prospects or valuation.

Risks

• The market may interpret the insider selling by a 10% owner and director as a lack of confidence in Harrow, Inc.'s future performance, potentially leading to negative investor sentiment.
• The sales could put downward pressure on Harrow, Inc.'s stock price due to increased supply and perceived negative signals.

Future Outlook

NA

Industry Context

This filing is specific to an insider transaction and does not directly relate to broader industry trends or competitive dynamics, beyond the general market perception of insider selling within the pharmaceutical or healthcare sector.

Related Party Transactions

• The reported transactions were conducted by Opaleye Management Inc. through a 'separately managed account' and shares are also held 'By Opaleye, L.P.', for which Opaleye Management Inc. serves as the portfolio/investment manager. This clarifies the nature of the beneficial ownership and control by the reporting entity over these accounts.

Stakeholder Impact

• Shareholders: Existing shareholders may perceive the insider selling as a negative signal, potentially leading to a decrease in share price or investor confidence.
• Potential Investors: New investors might be deterred by the insider selling, viewing it as a red flag.

Key Dates

Recommendation

Keywords

Harrow Inc., HROW, SEC Form 4, Insider Selling, Beneficial Ownership, Opaleye Management, Stock Sale, Director Transaction, 10% Owner