Raptor Pharmaceutical (RPTP) : The traders have covered their outstanding shorts in Raptor Pharmaceutical (RPTP) to the tune of -122,452 shares, a change of -1.8%. As on Jul 29, 2016, the outstanding shorts on the stock were 6,912,523 shares, however, by August 15, 2016, the shorts had reduced to 6,790,071 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 9.1% of the free float of the stock. It takes 10 days to cover the outstanding short positions. The stock has an average daily volume of 712,979 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Raptor Pharmaceutical (NASDAQ:RPTP): The stock opened at $7.34 on Wednesday but the bulls could not build on the opening and the stock topped out at $7.48 for the day. The stock traded down to $6.90 during the day, due to lack of any buying support eventually closed down at $6.97 with a loss of -4.52% for the day. The stock had closed at $7.30 on the previous day. The total traded volume was 920,684 shares.
In a related news,The director of Raptor Pharmaceutical Corp, Bruhn Suzanne Louise sold 18,258 shares at $12.47 on September 9, 2015. The Insider selling transaction had a total value worth of $227,677. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Raptor Pharmaceutical Corp. is a biopharmaceutical company. The Company is focused on developing and commercializing transformative treatments for people affected by rare and debilitating diseases. The Companys product, PROCYSBI delayed-release capsules received marketing approval from the FDA for the management of nephropathic cystinosis in adults and children six years and older. In Europe, PROCYSBI gastro-resistant hard capsules of cysteamine, received a marketing authorization from the European Commission (EC), as an orphan medicinal product for the management of nephropathic cystinosis in the European Union (EU). The Companys pipeline includes its delayed-release form of cysteamine, or RP103 and its oral 4-methylpyrazole, or Convivia. Its other product, Quinsair, is an inhaled formulation of levofloxacin used for the management of chronic pulmonary infections due to Pseudomonas aeruginosa in adult patients with cystic fibrosis.