Psychemedics Co. (NASDAQ:PMD) Director Purchases $3,312,823.20 in Stock

Psychemedics Co. (NASDAQ:PMD) Director Peter Kamin bought 1,409,712 shares of the stock in a transaction on Tuesday, December 3rd. The shares were acquired at an average cost of $2.35 per share, with a total value of $3,312,823.20. Following the purchase, the director now owns 1,820,418 shares of the company’s stock, valued at approximately $4,277,982.30. This represents a 343.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Psychemedics Price Performance

PMD stock opened at $3.21 on Friday. The stock has a market cap of $18.91 million, a price-to-earnings ratio of -6.29 and a beta of 0.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.59 and a quick ratio of 1.59. The company has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $2.31. Psychemedics Co. has a 1 year low of $1.63 and a 1 year high of $3.93.

About Psychemedics

Psychemedics Corporation, together with its subsidiaries, engages in the provision of testing services for the detection of drugs of abuse and other health markers through the analysis of hair samples in the United States and internationally. It offers screening and confirmation by mass spectrometry using industry-accepted practices for cocaine, marijuana, and PCP; amphetamines, including ecstasy, eve, and Adderall; opioids, such as heroin metabolite, morphine, hydrocodone, hydromorphone, oxycodone, oxymorphone, and codeine; synthetic cannabinoids comprising K2, Spice, and Blaze; benzodiazepines consisting of Xanax, Valium, and Ativan; and nicotine, fentanyl and fentanyl analogs, and alcohol.