Psychemedics Corp. (PMD) : Tieton Capital Management reduced its stake in Psychemedics Corp. by 6.55% during the most recent quarter end. The investment management company now holds a total of 319,313 shares of Psychemedics Corp. which is valued at $6,277,694 after selling 22,382 shares in Psychemedics Corp. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Psychemedics Corp. makes up approximately 5.63% of Tieton Capital Management’s portfolio.
Other Hedge Funds, Including , Vanguard Group Inc reduced its stake in PMD by selling 26,660 shares or 10.78% in the most recent quarter. The Hedge Fund company now holds 220,735 shares of PMD which is valued at $4,339,650.Dimensional Fund Advisors Lp boosted its stake in PMD in the latest quarter, The investment management firm added 2,577 additional shares and now holds a total of 50,906 shares of Psychemedics Corp. which is valued at $995,212.
Psychemedics Corp. opened for trading at $21.25 and hit $21.43 on the upside on Friday, eventually ending the session at $21.275, with a gain of 0.12% or 0.025 points. The heightened volatility saw the trading volume jump to 31,569 shares. Company has a market cap of $116 M.
Psychemedics Corporation (Psychemedics) provides testing services for the detection of drugs of abuse through the analysis of hair samples. The Companys testing methods utilize a technology that digests the hair and releases drugs trapped in the hair without destroying the drugs. The Companys 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.