Tyme Technologies Inc (NASDAQ:TYME) was the recipient of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 6,730,000 shares, a decline of 5.2% from the December 15th total of 7,100,000 shares. Based on an average daily volume of 448,600 shares, the days-to-cover ratio is currently 15.0 days. Currently, 13.1% of the company’s stock are short sold.
TYME has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Tyme Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. ValuEngine upgraded Tyme Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd.
Shares of Tyme Technologies stock traded up $0.04 during trading hours on Thursday, hitting $1.78. 1,975 shares of the company were exchanged, compared to its average volume of 868,590. The stock has a market capitalization of $195.91 million, a price-to-earnings ratio of -5.50 and a beta of 0.40. The business has a 50-day moving average of $1.24 and a 200-day moving average of $1.26. Tyme Technologies has a 1 year low of $0.92 and a 1 year high of $4.01.
In other news, major shareholder Michael Demurjian sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $1.64, for a total transaction of $32,800.00. Following the completion of the sale, the insider now owns 25,050,521 shares in the company, valued at $41,082,854.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 260,000 shares of company stock worth $316,600 in the last ninety days. Insiders own 27.17% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in shares of Tyme Technologies during the third quarter valued at $71,000. Morgan Stanley grew its position in Tyme Technologies by 187.8% during the second quarter. Morgan Stanley now owns 139,579 shares of the company’s stock valued at $170,000 after purchasing an additional 91,081 shares in the last quarter. Perkins Capital Management Inc. increased its stake in Tyme Technologies by 77.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 142,500 shares of the company’s stock valued at $170,000 after buying an additional 62,000 shares during the period. Paloma Partners Management Co acquired a new position in Tyme Technologies in the 2nd quarter valued at approximately $238,000. Finally, Bank of New York Mellon Corp increased its stake in Tyme Technologies by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 306,199 shares of the company’s stock valued at $374,000 after buying an additional 17,173 shares during the period. 12.93% of the stock is owned by institutional investors and hedge funds.
Tyme Technologies Company Profile
Tyme Technologies, Inc, a clinical-stage biotechnology company, develops novel cancer therapeutics. It is developing SM-88, a combination therapy based on dysfunctional metyrosine derivatives in Phase II development for metastatic pancreatic cancer and biomarker-recurrent prostate cancer. The company was founded in 2011 and is headquartered in New York, New York.
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