Yesterday, Pharmacyclics, Inc. (NASDAQ:PCYC) saw its Chief Medical Officer, Jesse McGreivy, complete a stock disposition of 34,062 shares. The Common Stock was sold directly and for a price of $120.91 per share. In addition to this, the insider also exercised his use of stock options for his second transaction of the fiscal year so far. In March, McGreivy had sold 6,563 shares of Common Stock for $139.66 per share.
Furthermore, the firm’s Senior Vice President of Chemical Operations, Gregory Hemmi, also completed a stock disposition in March, where he unloaded 15,000 shares of Common Stock for a price of $140.00 per share. The sale left Hemmi with a total of 38,004 company shares.
On another note, last quarter also showed a lack of confidence in Pharmacyclics on behalf of hedge funds, as many decreased their stakes in the biopharmaceutical firm. Donald Chiboucis’ Columbus Circle Investors, for example, decreased the company’s portfolio activity by 36% during Q1, leaving the hedge fund with 883,877 shares, with an estimated value of $88.5 million.