CoLucid Pharmaceuticals Inc. (CLCD) Sees Significant Drop in Short Interest
CoLucid Pharmaceuticals Inc. (NASDAQ:CLCD) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 581,472 shares, a drop of 18.6% from the October 14th total of 713,902 shares. Currently, 6.2% of the shares of the company are short sold. Based on an average trading volume of 225,567 shares, the short-interest ratio is presently 2.6 days.
A number of equities research analysts have recently weighed in on the stock. Ladenburg Thalmann lifted their price target on shares of CoLucid Pharmaceuticals from $23.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Piper Jaffray Cos. set a $49.00 price target on shares of CoLucid Pharmaceuticals and gave the company an “overweight” rating in a research report on Friday, September 30th. Zacks Investment Research downgraded shares of CoLucid Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 9th. Finally, Stifel Nicolaus lifted their price target on shares of CoLucid Pharmaceuticals from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, October 24th.
In other CoLucid Pharmaceuticals news, CEO Thomas P. Mathers sold 1,502 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $37.08, for a total transaction of $55,694.16. Following the completion of the sale, the chief executive officer now directly owns 248,169 shares in the company, valued at $9,202,106.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Linda C. Hogan sold 48,736 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $19.87, for a total transaction of $968,384.32. Following the sale, the insider now owns 36,452 shares of the company’s stock, valued at $724,301.24. The disclosure for this sale can be found here. Company insiders own 13.70% of the company’s stock.
A number of large investors have recently modified their holdings of CLCD. Price T Rowe Associates Inc. MD increased its stake in shares of CoLucid Pharmaceuticals by 87.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,486,274 shares of the biopharmaceutical company’s stock worth $94,851,000 after buying an additional 1,158,959 shares during the last quarter. BVF Inc. IL bought a new position in CoLucid Pharmaceuticals during the third quarter worth $29,120,000. Great Point Partners LLC bought a new position in CoLucid Pharmaceuticals during the third quarter worth $15,260,000. Adage Capital Partners GP L.L.C. bought a new position in CoLucid Pharmaceuticals during the third quarter worth $11,445,000. Finally, AWM Investment Company Inc. bought a new position in CoLucid Pharmaceuticals during the third quarter worth $11,022,000. 31.44% of the stock is owned by institutional investors and hedge funds.
CoLucid Pharmaceuticals (NASDAQ:CLCD) opened at 36.45 on Friday. The company’s market capitalization is $558.92 million. CoLucid Pharmaceuticals has a 52 week low of $4.57 and a 52 week high of $40.65. The company has a 50-day moving average of $34.52 and a 200-day moving average of $17.23.
About CoLucid Pharmaceuticals
CoLucid Pharmaceuticals, Inc is a Phase III clinical-stage biopharmaceutical company. The Company is engaged in developing a small molecule for the acute treatment of migraine headaches. Its product candidates address the needs of migraine patients, including those with cardiovascular risk factors or stable cardiovascular disease and those dissatisfied with existing therapies.
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