Tyme Technologies, Inc. (NASDAQ:TYME)’s stock price traded down 5.1% on Wednesday following insider selling activity. The company traded as low as $1.82 and last traded at $2.04. 3,677,614 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 3,967,702 shares. The stock had previously closed at $2.15.

Specifically, major shareholder Michael Demurjian sold 20,000 shares of the company’s stock in a transaction on Monday, January 11th. The shares were sold at an average price of $1.62, for a total transaction of $32,400.00. Following the completion of the transaction, the insider now owns 24,958,546 shares in the company, valued at approximately $40,432,844.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steve Hoffman sold 29,561 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $0.89, for a total transaction of $26,309.29. Following the transaction, the chief executive officer now owns 25,882,845 shares of the company’s stock, valued at approximately $23,035,732.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 564,001 shares of company stock valued at $619,982. 25.51% of the stock is owned by insiders.

Separately, Zacks Investment Research cut shares of Tyme Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 25th.

The firm has a market capitalization of $265.55 million, a price-to-earnings ratio of -9.18 and a beta of 0.84. The stock’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.12.

Tyme Technologies (NASDAQ:TYME) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. Sell-side analysts predict that Tyme Technologies, Inc. will post -0.28 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Tyme Technologies by 98.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 101,467 shares of the company’s stock valued at $135,000 after acquiring an additional 50,384 shares during the last quarter. Jane Street Group LLC acquired a new stake in Tyme Technologies in the 2nd quarter valued at about $44,000. Charles Schwab Investment Management Inc. grew its stake in Tyme Technologies by 12.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 162,357 shares of the company’s stock valued at $216,000 after acquiring an additional 17,994 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Tyme Technologies by 45.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 364,068 shares of the company’s stock valued at $484,000 after acquiring an additional 113,327 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Tyme Technologies by 78.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 39,474 shares of the company’s stock valued at $37,000 after acquiring an additional 17,384 shares during the last quarter. 14.00% of the stock is currently owned by institutional investors and hedge funds.

About Tyme Technologies (NASDAQ:TYME)

Tyme Technologies, Inc, a clinical-stage biotechnology company, develops cancer metabolism-based therapies (CMBTs) in the United States. Its lead candidate is the SM-88, a CMBT that is in a Phase II/III clinical trial to treat across 15 types of cancer, including pancreatic, lung, breast, prostate, sarcoma, and lymphoma.

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