Insider Buying: Psychemedics Co. (NASDAQ:PMD) Major Shareholder Buys 75,000 Shares of Stock

Psychemedics Co. (NASDAQ:PMD) major shareholder Powell Anderson Capital Partne bought 75,000 shares of Psychemedics stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $2.67 per share, for a total transaction of $200,250.00. Following the completion of the transaction, the insider now owns 494,556 shares of the company’s stock, valued at approximately $1,320,464.52. This represents a 17.88 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Powell Anderson Capital Partne also recently made the following trade(s):

• On Tuesday, December 10th, Powell Anderson Capital Partne purchased 7,473 shares of Psychemedics stock. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $19,355.07.

Psychemedics Stock Down 1.8 %

Shares of Psychemedics stock opened at $2.67 on Friday. Psychemedics Co. has a 1-year low of $1.63 and a 1-year high of $3.93. The company has a market capitalization of $15.73 million, a PE ratio of -5.24 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 business has a 50-day moving average of $2.38 and a 200-day moving average of $2.31.

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.