Cardiome Pharma Corp (COM) Trading Down 4.5% After Insider Selling
Cardiome Pharma Corp (TSE:COM) (NASDAQ:CRME) dropped 4.5% during trading on Tuesday following insider selling activity. The company traded as low as C$2.35 and last traded at C$2.35. Approximately 24,100 shares were traded during mid-day trading, an increase of 40% from the average daily volume of 17,208 shares. The stock had previously closed at C$2.46.
Specifically, Director Arthur Henry Willms acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was acquired at an average cost of C$2.76 per share, with a total value of C$27,600.00. Also, insider Jennifer Archibald sold 17,164 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of C$2.51, for a total value of C$43,081.64. Insiders purchased a total of 28,500 shares of company stock valued at $73,150 over the last three months.
The firm’s market capitalization is $79.43 million. The stock has a 50-day moving average price of $2.75 and a 200 day moving average price of $4.44.
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About Cardiome Pharma Corp
Cardiome Pharma Corp. (Cardiome) is a specialty pharmaceutical company. The Company is engaged in the development and commercialization of cardiovascular therapies for heart disease. The Company’s segments are Europe and Rest of World. Cardiome has two marketed, in-hospital, cardiology products, which include BRINAVESS (vernakalant IV), approved in Europe and other territories for the conversion of onset atrial fibrillation (AF) to sinus rhythm in adults, and AGGRASTAT (tirofiban hydrochloride (HCl)), indicated for use in patients with acute coronary syndrome.
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