Insider Selling: Robert Melamede Unloads 473,300 Shares of Cannabis Science Stock (CBIS)
Cannabis Science (NASDAQ:CBIS) major shareholder Robert Melamede sold 473,300 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $0.25, for a total value of $118,325.00. Following the transaction, the insider now directly owns 46,545,333 shares in the company, valued at approximately $11,636,333. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Cannabis Science (NASDAQ:CBIS) traded down 8.83% on Friday, hitting $0.222. The stock had a trading volume of 30,453,356 shares. Cannabis Science has a one year low of $0.033 and a one year high of $0.12. The stock’s 50-day moving average is $0.04 and its 200-day moving average is $0.04. The company’s market cap is $169.0 million.
Cannabis Science, Inc is a development-stage company. Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products.
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