Canaccord Genuity Reaffirms Buy Rating for Tyme Technologies (NASDAQ:TYME)

Tyme Technologies (NASDAQ:TYME)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a research note issued on Monday, AnalystRatings.com reports.

A number of other analysts also recently issued reports on TYME. Zacks Investment Research downgraded Tyme Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 29th. HC Wainwright reiterated a “buy” rating and set a $9.50 price target on shares of Tyme Technologies in a research report on Thursday, May 21st.

TYME stock opened at $1.38 on Monday. The firm has a market capitalization of $153.55 million, a PE ratio of -7.67 and a beta of 0.97. Tyme Technologies has a twelve month low of $0.86 and a twelve month high of $2.04. The stock has a 50-day simple moving average of $1.46 and a two-hundred day simple moving average of $1.32.

Tyme Technologies (NASDAQ:TYME) last posted its earnings results on Wednesday, May 20th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. As a group, sell-side analysts expect that Tyme Technologies will post -0.28 EPS for the current fiscal year.

In other news, major shareholder Michael Demurjian sold 20,000 shares of Tyme Technologies stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $1.40, for a total transaction of $28,000.00. Following the completion of the sale, the insider now owns 23,838,546 shares in the company, valued at approximately $33,373,964.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 240,000 shares of company stock valued at $328,600. Corporate insiders own 27.17% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its position in Tyme Technologies by 72.2% in the 4th quarter. Citigroup Inc. now owns 23,556 shares of the company’s stock worth $33,000 after buying an additional 9,873 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Tyme Technologies by 31.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 42,232 shares of the company’s stock worth $59,000 after buying an additional 10,124 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Tyme Technologies in the 4th quarter worth approximately $25,000. Geode Capital Management LLC lifted its position in Tyme Technologies by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 743,190 shares of the company’s stock worth $1,040,000 after buying an additional 18,481 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in Tyme Technologies by 12,625.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 25,450 shares of the company’s stock worth $36,000 after buying an additional 25,250 shares during the last quarter. Institutional investors own 11.84% 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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