EnteroMedics (ETRM) : Traders are increasing their bearish positions on the stock, as is visible by the 396% jump in the outstanding short positions; a total addition of 2,115,599 shares on the sell side. On Jul 29, 2016, the total short positions were 534,223 shares, which went up to 2,649,822 shares by the close of trading on August 15, 2016. It will take 1 days for the bears to roll over or cover. An average of 2,246,151 shares exchange hands daily. 32.8% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
EnteroMedics (NASDAQ:ETRM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $0.19 and $0.18 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $0.22. The buying momentum continued till the end and the stock did not give up its gains. It closed at $0.19, notching a gain of 1.07% for the day. The total traded volume was 25,901,993 . The stock had closed at $0.19 on the previous day.
In a related news, Delange Peter M., officer (SVP, Ops & Bus Dev) of Enteromedics Inc had purchased 20,000 shares on June 3, 2016 in a transaction. The price per share was $0.55 and the total amount of the disclosed transaction was $11,000.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
EnteroMedics Inc. (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Companys neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve using high frequency, low energy, electrical impulses. The Companys initial product is the Maestro System, which uses VBLOC therapy to affect metabolic regulatory control, limits the expansion of the stomach, help control hunger sensations between meals, reduce the frequency and intensity of stomach contractions and produce a feeling of early and prolonged fullness. The Company has approvals to commercially launch its product, the Maestro Rechargeable System, in the United States, Australia, the European Economic Area and other countries.