Zazove Associates Lowers stake in DURECT Corporation (DRRX)

DURECT Corporation (DRRX) : Zazove Associates reduced its stake in DURECT Corporation by 51.01% during the most recent quarter end. The investment management company now holds a total of 125,841 shares of DURECT Corporation which is valued at $227,772 after selling 131,020 shares in DURECT Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.DURECT Corporation makes up approximately 0.11% of Zazove Associates’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in DRRX in the latest quarter, The investment management firm added 52,612 additional shares and now holds a total of 755,526 shares of DURECT Corporation which is valued at $1,367,502.Blackrock Institutional Trust Company N.a. boosted its stake in DRRX in the latest quarter, The investment management firm added 131,135 additional shares and now holds a total of 4,100,127 shares of DURECT Corporation which is valued at $7,421,230.First Eagle Investment Management boosted its stake in DRRX in the latest quarter, The investment management firm added 5,500,000 additional shares and now holds a total of 19,881,546 shares of DURECT Corporation which is valued at $35,985,598. DURECT Corporation makes up approx 0.09% of First Eagle Investment Management’s portfolio.

DURECT Corporation opened for trading at $1.75 and hit $1.78 on the upside on Monday, eventually ending the session at $1.75, with a gain of 1.16% or 0.02 points. The heightened volatility saw the trading volume jump to 6,26,981 shares. Company has a market cap of $240 M.

Durect Corporation is a specialty pharmaceutical company. The Company is focused on the development of pharmaceuticals based on its drug delivery technology platforms chemical entities derived from its Epigenomic Regulator Program and its engagement in drug development. Its research and development programs fall into one of two categories: Drug Delivery Programs in which it applies its formulation and technologies to pharmaceutical ingredients and New Chemical Entities derived from its Epigenomic Regulator Program in which it discovers and develops molecules. It also manufactures and sells osmotic pumps and biodegradable polymers and excipients for pharmaceutical and medical device clients for use as raw materials in their products. Its product pipeline consists of seven investigational drug candidates in clinical development: REMOXY (ORADUR-Oxycodone) POSIDUR (SABER-Bupivacaine) ELADUR (TRANSDUR-Bupivacaine) Relday ORADUR-ADHD ORADUR-Opioid and SABER-based ophthalmic.

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