Shares of Adamis Pharmaceuticals Corp (NASDAQ:ADMP) dropped 1.9% on Wednesday . The company traded as low as $3.12 and last traded at $3.13, with a volume of 241,035 shares trading hands. The stock had previously closed at $3.19.

Separately, Maxim Group increased their price objective on Adamis Pharmaceuticals Corp from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, March 29th.

The company’s 50-day moving average price is $5.02 and its 200 day moving average price is $5.77. The firm’s market capitalization is $47.73 million.

In related news, SVP David J. Marguglio sold 4,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $8.08, for a total transaction of $32,320.00. Following the completion of the transaction, the senior vice president now owns 102,227 shares in the company, valued at approximately $825,994.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David J. Marguglio sold 4,860 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $9.17, for a total value of $44,566.20. Following the transaction, the senior vice president now owns 112,227 shares of the company’s stock, valued at approximately $1,029,121.59. The disclosure for this sale can be found here.

Adamis Pharmaceuticals Corporation is a pharmaceutical company. The Company is engaged in the development of its specialty pharmaceutical products. The Company is developing various products in the allergy and respiratory markets, including a dry powder inhaler technology that it acquired from 3M Company (3M).

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