Acorda Therapeutics (ACOR) : The traders have covered their outstanding shorts in Acorda Therapeutics (ACOR) to the tune of -234,558 shares, a change of -3.9%. As on Jul 29, 2016, the outstanding shorts on the stock were 5,951,524 shares, however, by August 15, 2016, the shorts had reduced to 5,716,966 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 12.7% of the free float of the stock. It takes 12 days to cover the outstanding short positions. The stock has an average daily volume of 492,398 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Acorda Therapeutics (NASDAQ:ACOR): The stock opened at $25.60 on Wednesday but the bulls could not build on the opening and the stock topped out at $25.92 for the day. The stock traded down to $24.19 during the day, due to lack of any buying support eventually closed down at $24.29 with a loss of -5.19% for the day. The stock had closed at $25.62 on the previous day. The total traded volume was 436,908 shares.
In a related news, The Securities and Exchange Commission has divulged that Lawrence David, officer (Chief of Business Operations) of Acorda Therapeutics Inc, had unloaded 500 shares at an average price of $25.09 in a transaction dated on June 22, 2016. The total value of the transaction was worth $12,545.
Acorda Therapeutics, Inc. is a biopharmaceutical company engaged in the identification, development and commercialization of therapies that restore neurological function and treat patients with neurological disorders. The Companys markets three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10milligrams, a treatment to improve walking in patients with multiple sclerosis (MS). It also markets Zanaflex Capsules and tablets, FDA-approved as short-acting drugs for the management of spasticity, and Qutenza, an FDA-approved dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia, also known as post-shingles pain. The Company is also developing a number of clinical and preclinical stage therapies for the treatment of a range of disorders, including chronic post-stroke walking deficits (PSWD), Parkinsons disease, epilepsy, heart failure, MS, and spinal cord injury.