Insys Therapeutics (INSY) : Traders are negative on Insys Therapeutics (INSY), as it has 66.3% of short positions outstanding compared to its float. The total shorts have reduced by -568,200 shares, which is a -3.5% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,16,376,492 to 15,808,292 shares. While the daily trading volume of the stock is 865,099, there are 18 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Insys Therapeutics (NASDAQ:INSY): The stock opened at $17.50 on Wednesday but the bulls could not build on the opening and the stock topped out at $18.42 for the day. The stock traded down to $15.54 during the day, due to lack of any buying support eventually closed down at $15.70 with a loss of -4.09% for the day. The stock had closed at $16.37 on the previous day. The total traded volume was 2,297,587 shares.
In a related news,The director of Insys Therapeutics, Inc., Stanley Theodore H sold 15,000 shares at $18.02 on August 16, 2016. The Insider selling transaction had a total value worth of $270,300. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. The Company develops and commercializes supportive care products. The Company has two marketed products: Subsys, a sublingual fentanyl spray for breakthrough cancer pain (BTCP) in opioid-tolerant patients and Dronabinol SG Capsule, a generic equivalent to Marinol (dronabinol), an approved second-line treatment of chemotherapy-induced nausea and vomiting (CINV), and anorexia associated with weight loss in patients with AIDS. The Companys lead product candidate is Dronabinol oral solution, an orally administered liquid formulation of dronabinol. Dronabinol oral solution has demonstrated more rapidly detectable blood levels and a more reliable absorption profile than Marinol in its clinical studies.