Insider Buying: Psychemedics Co. (NASDAQ:PMD) Major Shareholder Buys 3,000 Shares of Stock

Psychemedics Co. (NASDAQ:PMDGet Rating) major shareholder Peter Kamin acquired 3,000 shares of Psychemedics stock in a transaction on Thursday, April 7th. The stock was purchased at an average cost of $6.68 per share, with a total value of $20,040.00. Following the purchase, the insider now directly owns 205,931 shares of the company’s stock, valued at approximately $1,375,619.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Peter Kamin also recently made the following trade(s):

  • On Wednesday, March 16th, Peter Kamin acquired 4,000 shares of Psychemedics stock. The stock was purchased at an average cost of $6.51 per share, with a total value of $26,040.00.

Shares of Psychemedics stock opened at $6.53 on Tuesday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.05. Psychemedics Co. has a 52 week low of $6.25 and a 52 week high of $8.90. The firm has a 50 day moving average price of $6.98. The firm has a market capitalization of $36.51 million, a PE ratio of -50.23 and a beta of 0.66.

Separately, TheStreet cut Psychemedics from a “c” rating to a “d+” rating in a research note on Wednesday, March 30th.

Several large investors have recently made changes to their positions in PMD. Wealth Effects LLC purchased a new position in shares of Psychemedics during the fourth quarter valued at approximately $291,000. Moors & Cabot Inc. purchased a new position in shares of Psychemedics during the third quarter valued at approximately $32,000. State Street Corp purchased a new position in shares of Psychemedics during the second quarter valued at approximately $110,000. HighMark Wealth Management LLC purchased a new position in shares of Psychemedics during the third quarter valued at approximately $46,000. Finally, Geode Capital Management LLC boosted its position in shares of Psychemedics by 3.8% during the third quarter. Geode Capital Management LLC now owns 34,618 shares of the company’s stock valued at $294,000 after buying an additional 1,277 shares during the last quarter. 39.31% of the stock is currently owned by institutional investors.

About Psychemedics (Get Rating)

Psychemedics Corporation provides testing services for the detection of drugs of abuse through the analysis of hair samples in the United States, Brazil, and internationally. The company offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, PCP, amphetamines, opiates, synthetic cannabinoids, and benzodiazepines.

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