Moors Cabot buys $5,333,074 stake in Psychemedics Corp. (PMD)

Psychemedics Corp. (PMD) : Moors Cabot scooped up 189,168 additional shares in Psychemedics Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 388,708 shares of Psychemedics Corp. which is valued at $5,333,074.Psychemedics Corp. makes up approximately 0.96% of Moors Cabot’s portfolio.

Other Hedge Funds, Including , Blackrock Fund Advisors reduced its stake in PMD by selling 1,631 shares or 7.66% in the most recent quarter. The Hedge Fund company now holds 19,660 shares of PMD which is valued at $269,735.Deprince Race Zollo Inc boosted its stake in PMD in the latest quarter, The investment management firm added 1,578 additional shares and now holds a total of 78,023 shares of Psychemedics Corp. which is valued at $1,093,882. Psychemedics Corp. makes up approx 0.02% of Deprince Race Zollo Inc’s portfolio. Lapides Asset Management sold out all of its stake in PMD during the most recent quarter. The investment firm sold 11,300 shares of PMD which is valued $162,833.Granite Investment Partners boosted its stake in PMD in the latest quarter, The investment management firm added 24,506 additional shares and now holds a total of 131,768 shares of Psychemedics Corp. which is valued at $1,898,777. Psychemedics Corp. makes up approx 0.17% of Granite Investment Partners’s portfolio.North Star Investment Management Corp. boosted its stake in PMD in the latest quarter, The investment management firm added 1,975 additional shares and now holds a total of 211,370 shares of Psychemedics Corp. which is valued at $3,045,842. Psychemedics Corp. makes up approx 0.58% of North Star Investment Management Corp.’s portfolio.

Psychemedics Corp. closed down -0.72 points or -5.25% at $13 with 11,104 shares getting traded on Monday. Post opening the session at $13.63, the shares hit an intraday low of $13 and an intraday high of $13.63 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Psychemedics Corporation (Psychemedics) provides testing services for the detection of drugs of abuse through the analysis of hair samples. The Company’s testing methods utilize a technology that digests the hair and releases drugs trapped in the hair without destroying the drugs. The Company’s primary application of its technology is as a testing service that analyzes hair samples for the presence of certain drugs of abuse. The Company performs a custom-designed enzyme immunoassay (EIA) on the liquid supernatant with confirmation testing by mass spectrometry. Psychemedics provides screening and confirmation by mass spectrometry using various practices for cocaine marijuana phencyclidine (PCP) amphetamines including ecstasy and opiates including heroin hydrocodone hydromorphone oxycodone and codeine. The Company also offers a test for alcohol using hair which measures average alcohol consumption over a period of approximately three months.

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