Insider Buying: Cerecor Inc (NASDAQ:CERC) Major Shareholder Acquires 2,200,000 Shares of Stock
Cerecor Inc (NASDAQ:CERC) major shareholder Armistice Capital Master Fund bought 2,200,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $3.05 per share, with a total value of $6,710,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Armistice Capital Master Fund also recently made the following trade(s):
- On Friday, August 30th, Armistice Capital Master Fund purchased 41,764 shares of Cerecor stock. The stock was bought at an average price of $3.22 per share, for a total transaction of $134,480.08.
- On Monday, August 19th, Armistice Capital Master Fund purchased 12,184 shares of Cerecor stock. The stock was bought at an average cost of $3.46 per share, with a total value of $42,156.64.
- On Wednesday, August 14th, Armistice Capital Master Fund purchased 100,000 shares of Cerecor stock. The stock was bought at an average cost of $3.33 per share, with a total value of $333,000.00.
Shares of NASDAQ CERC opened at $3.59 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.74 and a quick ratio of 0.71. Cerecor Inc has a 12 month low of $2.71 and a 12 month high of $7.65. The stock has a 50-day moving average price of $3.49 and a two-hundred day moving average price of $4.89.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Cerecor by 56.5% during the 2nd quarter. Vanguard Group Inc. now owns 678,000 shares of the company’s stock worth $3,689,000 after purchasing an additional 244,657 shares in the last quarter. BlackRock Inc. lifted its stake in Cerecor by 4,046.6% in the 2nd quarter. BlackRock Inc. now owns 1,205,533 shares of the company’s stock valued at $6,559,000 after purchasing an additional 1,176,460 shares during the last quarter. Northern Trust Corp boosted its position in Cerecor by 47.4% in the second quarter. Northern Trust Corp now owns 55,971 shares of the company’s stock valued at $304,000 after buying an additional 17,999 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Cerecor by 294.9% in the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the company’s stock valued at $312,000 after buying an additional 42,885 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Cerecor in the second quarter valued at approximately $288,000. 57.31% of the stock is currently owned by institutional investors.
Cerecor Company Profile
Cerecor Inc, a pharmaceutical company, focuses on pediatric health care. Its lead product portfolio includes prescribed dietary supplements, such as Poly-Vi-Flor and Tri-Vi-Flor; and prescription drugs, such as Millipre, Ulesfia, Karbinal ER, AcipHex Sprinkle, and Cefaclor for oral suspension, as well as Flexichamber a medical device.
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