Tyme Technologies (NASDAQ:TYME) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports. They currently have a $1.50 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.78% from the stock’s current price.
According to Zacks, “Tyme Technologies, Inc. is a pharmaceutical company. The company is focused on creating medicines which specialize in the body’s immune system to treat diseases. Tyme Technologies, Inc. is headquartered in New York. “
A number of other brokerages have also commented on TYME. ValuEngine raised shares of Tyme Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. HC Wainwright started coverage on shares of Tyme Technologies in a research report on Monday, August 12th. They issued a “buy” rating on the stock.
Tyme Technologies (NASDAQ:TYME) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.02. As a group, equities analysts predict that Tyme Technologies will post -0.22 EPS for the current year.
In related news, major shareholder Michael Demurjian sold 50,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $1.11, for a total transaction of $55,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 320,000 shares of company stock worth $2,226,900. 27.17% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TYME. Bank of New York Mellon Corp increased its holdings 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 buying an additional 17,173 shares during the last quarter. Paloma Partners Management Co acquired a new position in Tyme Technologies during the second quarter worth $238,000. Finally, Morgan Stanley increased its holdings 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 buying an additional 91,081 shares during the last quarter. Institutional investors and hedge funds own 14.96% of the company’s stock.
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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