Tyme Technologies Inc (NASDAQ:TYME) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,656,009 shares, an increase of 26.7% from the February 15th total of 1,307,017 shares. Based on an average daily trading volume, of 227,607 shares, the short-interest ratio is presently 7.3 days.
In related news, CEO Steve Hoffman sold 17,986 shares of Tyme Technologies stock in a transaction on Monday, February 12th. The shares were sold at an average price of $3.82, for a total value of $68,706.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
A number of institutional investors have recently added to or reduced their stakes in TYME. Millennium Management LLC boosted its holdings in Tyme Technologies by 314.1% in the fourth quarter. Millennium Management LLC now owns 238,125 shares of the company’s stock worth $1,519,000 after purchasing an additional 180,620 shares during the period. Family Management Corp acquired a new position in Tyme Technologies in the fourth quarter worth $702,000. BlueCrest Capital Management Ltd acquired a new position in Tyme Technologies in the fourth quarter worth $247,000. Franklin Street Advisors Inc. NC acquired a new position in Tyme Technologies in the fourth quarter worth $198,000. Finally, Wells Fargo & Company MN boosted its holdings in Tyme Technologies by 923.9% in the fourth quarter. Wells Fargo & Company MN now owns 29,180 shares of the company’s stock worth $186,000 after purchasing an additional 26,330 shares during the period. 3.72% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on TYME. BidaskClub upgraded shares of Tyme Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 8th. Zacks Investment Research lowered shares of Tyme Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. HC Wainwright restated a “buy” rating and issued a $9.50 price target (up previously from $8.00) on shares of Tyme Technologies in a research note on Thursday, February 8th. Canaccord Genuity began coverage on shares of Tyme Technologies in a research note on Wednesday, January 3rd. They issued a “buy” rating for the company. Finally, Evercore ISI assumed coverage on shares of Tyme Technologies in a research note on Friday, November 17th. They issued an “outperform” rating and a $7.00 price target for the company. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.25.
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Tyme Technologies Company Profile
Tyme Technologies, Inc is a clinical-stage biotechnology company. The Company is focused on developing cancer therapeutics that is intended to be broadly effective across tumor types and have low toxicity profiles. The Company’s therapeutic approach is designed to take advantage of a cancer cell’s innate metabolic weaknesses to compromise its defenses, leading to cell death through oxidative stress and exposure to the body’s natural immune system.
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