Tyme Technologies (NASDAQ:TYME) Sees Strong Trading Volume

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Tyme Technologies Inc (NASDAQ:TYME) saw unusually-strong trading volume on Wednesday . Approximately 829,590 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 732,496 shares.The stock last traded at $1.15 and had previously closed at $1.06.

Several analysts have recently commented on TYME shares. HC Wainwright initiated coverage on shares of Tyme Technologies in a report on Monday, August 12th. They issued a “buy” rating for the company. Zacks Investment Research upgraded shares of Tyme Technologies from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a research report on Friday, August 16th.

The company has a market cap of $118.67 million, a P/E ratio of -3.69 and a beta of 0.40. The company’s 50-day moving average is $1.17 and its two-hundred day moving average is $1.65.

Tyme Technologies (NASDAQ:TYME) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. As a group, sell-side analysts forecast that Tyme Technologies Inc will post -0.22 EPS for the current fiscal year.

In related news, major shareholder Michael Demurjian sold 50,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $1.11, for a total transaction of $55,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Carberry purchased 30,000 shares of Tyme Technologies stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $1.07 per share, with a total value of $32,100.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 60,000 shares of company stock valued at $63,450 and have sold 160,000 shares valued at $177,500. 27.17% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Tyme Technologies by 263.0% during the fourth quarter. Geode Capital Management LLC now owns 689,612 shares of the company’s stock worth $2,544,000 after purchasing an additional 499,627 shares during the period. Northern Trust Corp boosted its position in Tyme Technologies by 26.5% during the fourth quarter. Northern Trust Corp now owns 485,786 shares of the company’s stock worth $1,793,000 after purchasing an additional 101,734 shares during the period. Bank of New York Mellon Corp boosted its position in Tyme Technologies by 5.9% during the second quarter. Bank of New York Mellon Corp now owns 306,199 shares of the company’s stock worth $374,000 after purchasing an additional 17,173 shares during the period. Paloma Partners Management Co bought a new position in Tyme Technologies during the second quarter worth about $238,000. Finally, Morgan Stanley boosted its position in Tyme Technologies by 187.8% during the second quarter. Morgan Stanley now owns 139,579 shares of the company’s stock worth $170,000 after purchasing an additional 91,081 shares during the period. Hedge funds and other institutional investors own 18.57% of the company’s stock.

About Tyme Technologies (NASDAQ:TYME)

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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