Cempra (CEMP) has 8,188,371 shares of shorts outstanding as on August 15, 2016, with 8 days left to cover or roll them over. On Jul 29, 2016, the open interest of short positions was 8,609,804 shares. The stock has a decent trading volume of 1,065,489 shares daily. The marginal decrease in the short positions is by -4.9%, which amounts to -421,433 shares. Short positions are 20.3% of the available float. The short interest information was released on Wednesday Aug 24th after the market close.
Cempra (NASDAQ:CEMP): The stock opened at $22.96 on Wednesday but the bulls could not build on the opening and the stock topped out at $23.40 for the day. The stock traded down to $21.04 during the day, due to lack of any buying support eventually closed down at $21.19 with a loss of -7.26% for the day. The stock had closed at $22.85 on the previous day. The total traded volume was 870,801 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Chief Commercial Officer) of Cempra, Inc., Moore David, had purchased 500 shares in a transaction dated on March 1, 2016. The transaction was executed at $16.18 per share with total amount equaling $8,090.
Cempra Inc. is a clinical-stage pharmaceutical company focused on developing differentiated antibiotics for the acute care and community settings to meet medical needs in the treatment of bacterial infectious diseases, particularly respiratory tract infections and chronic staphylococcal infections. The Companys lead product, solithromycin, is being developed in oral capsules, intravenous, or IV, and suspension formulations, initially for the treatment of community acquired bacterial pneumonia, or CABP, an infection of the respiratory tract. The Companys second product is Taksta, an antibiotic known as fusidic acid, that has been used for decades outside the United States, including Western Europe, but , which has never been approved in the United States. The Company is developing Taksta in the United States as an oral treatment of refractory bone and joint infections caused by staphylococci.