Gene analysis company Genius announced on the 11th that its largest shareholder, CEO Park Woong-yang, purchased 100,000 shares of its stock in the market. Park's equity stake increased from 30.58% to 30.88%.
This stock purchase by Park is interpreted as an intent to show confidence in the company's future growth potential and a commitment to responsible management to the market. The company stated that its stock has been excessively undervalued due to the recent slump in the stock market. A company official noted, “We will continue to practice responsible management and collaborate with multiple global pharmaceutical and biotech partners currently in progress based on Genius technology to achieve the company's performance growth.”