Moors Cabot buys $11,950,308 stake in Psychemedics Corp. (PMD)

Psychemedics Corp. (PMD) : Moors Cabot scooped up 19,902 additional shares in Psychemedics Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 498,969 shares of Psychemedics Corp. which is valued at $11,950,308.Psychemedics Corp. makes up approximately 2.03% of Moors Cabot’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The sold out all of its stake in PMD during the most recent quarter. The investment firm sold 149 shares of PMD which is valued $3,569.Crawford Investment Counsel Inc reduced its stake in PMD by selling 21,785 shares or 12.39% in the most recent quarter. The Hedge Fund company now holds 154,013 shares of PMD which is valued at $3,539,219. Psychemedics Corp. makes up approx 0.13% of Crawford Investment Counsel Inc’s portfolio.Dimensional Fund Advisors Lp boosted its stake in PMD in the latest quarter, The investment management firm added 9,106 additional shares and now holds a total of 60,012 shares of Psychemedics Corp. which is valued at $1,379,076.Blackrock Fund Advisors reduced its stake in PMD by selling 506 shares or 3.83% in the most recent quarter. The Hedge Fund company now holds 12,691 shares of PMD which is valued at $294,685. Next Financial Group Inc added PMD to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $11,200.

Psychemedics Corp. closed down -0.17 points or -0.68% at $24.77 with 80,377 shares getting traded on Monday. Post opening the session at $25, the shares hit an intraday low of $24.0861 and an intraday high of $26 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Psychemedics Corporation (Psychemedics) provides testing services for the detection of drugs of abuse through the analysis of hair samples. The Company’s testing methods utilize a technology that digests the hair and releases drugs trapped in the hair without destroying the drugs. The Company’s primary application of its technology is as a testing service that analyzes hair samples for the presence of certain drugs of abuse. The Company performs a custom-designed enzyme immunoassay (EIA) on the liquid supernatant with confirmation testing by mass spectrometry. Psychemedics provides screening and confirmation by mass spectrometry using various practices for cocaine marijuana phencyclidine (PCP) amphetamines including ecstasy and opiates including heroin hydrocodone hydromorphone oxycodone and codeine. The Company also offers a test for alcohol using hair which measures average alcohol consumption over a period of approximately three months.

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