Eterna Therapeutics stock rebounds after insider buying

Eterna Therapeutics Inc. shares of ERNA surged on Wednesday morning on recent insider buying, but the stock pulled back shortly after the market opened. Over the last week, the shares of eterna have shown elevated levels of volatility.

According to regulatory filings from Tuesday, director Charles Cherington purchased 785,268 shares of Eterna for $1.18 per share in the last few weeks.

Director Nicholas Jason Singer bought 848,858 shares of the company at the same price point, according to a separate filing.

On Monday, another filing showed that a major shareholder picked up more than 1 million shares of Eterna at an average price of $1.18 per share.

Eterna Therapeutics is a clinical-stage biopharmaceutical company that was previously known as Brooklyn ImmunoTherapeutics.

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ERNA Price Action: Eterna shares jumped above $6.30 per share Wednesday morning before reversing and turning negative.

The stock was down 0.45% at $4.44 at the time of writing, according to Benzinga Pro.