Flamel Technologies S.A. (FLML) Shares Plunge on Volume Surge

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Shares of Flamel Technologies S.A. (ADR) (NASDAQ:FLML) are down big in mid-morning trading today on a sudden spike of volume at approximately 10:06 a.m. ET. The stock opened the day in the red and slowly began its fall until a sudden sellloff took the stock from $13.82 all the way down to $11.57 in a matter of only a few minutes, on above average volume.

Flamel Technologies S.A. (NASDAQ:FLML) shares are down well over 55% since July when it traded over $26 for a time. The reason for today’s decline is unknown, other than possible year-end sales for tax reasons. We wil be watching this stock carefully over the remainder of the trading day, looking for a possible bounce if news remains scarce. The stock is down 18.88% or $2.73 following the news, hitting $11.76 per share. Approximately 146,565 shares traded hands. FLML shares have declined 22.43% since May 28, 2015 and are currently downtrending. It has underperformed the S&P500 by 20.31%.

From a total of 2 analysts covering Flamel (NASDAQ:FLML) stock, 2 rate it a “Buy”, 0 a “Sell”, and 0 a “Hold”. This means that 100% of the ratings are positive. The highest target price is $21 while the lowest target price is $21. The mean of all analyst targets is $21 which is 78.57% above today’s ($11.76) stock price. Flamel was the topic of 2 analyst reports since November 16, 2015 according to the firm StockzIntelligence Inc. Roth Capital maintained shares on November 16 with a “Buy” rating.

The institutional sentiment decreased to 1.2 in Q2 2015. It’s down 0.70, from 1.9 in 2015Q2. The ratio fall, as 11 funds sold all their Flamel Technologies S.A. (ADR) shares they owned while 29 reduced their positions. 20 funds bought stakes while 28 increased their total positions. Institutions now own 30.36 million shares which is 4.28% more than the previous share count of 29.12 million in 2015Q2.

Broadfin Capital Llc holds 4% of its total portfolio in Flamel Technologies S.A. (ADR), equating to 4.39 million shares. Jw Asset Management Llc owns 569,819 shares representing 3.37% of their total US portfolio. Moreover, Sio Capital Management Llc has 2.68% of their total portfolio invested in the company, equating to 239,698 shares. The Massachusetts-based Portolan Capital Management Llc has a total of 2.65% of their portfolio invested in the stock. Deerfield Management Co, a New York-based fund reported 4.07 million shares owned.

Flamel Technologies SA is a pharmaceutical company. The company has a market cap of $487.65 million. The Company’s focus is on the development of safer and more efficacious formulations and other medical needs in the process. It currently has negative earnings. Micropump platform applied to sodium oxybate in a First-in-Man clinical study in healthy volunteers.

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