Picard Medical Shares Rebound 27.5% to $12.75 After Two-Day Slide

Picard Medical shares closed 27.5% higher at $12.75 on Oct. 16, rebounding after two days of losses but remaining 16.8% below their Oct. 13 closing price.

The stock opened at $12.21 and traded between $8.38 and $13.16. It finished below the session high at 4 p.m. ET (20:00 UTC).

Picard Medical closed at $15.33 on Oct. 13, then at $12.68 on Oct. 14 and $10 on Oct. 15. The Oct. 16 gain recovered part of that decline without returning the shares to their earlier level.

Picard Medical is the parent company of SynCardia Systems, which makes the SynCardia Total Artificial Heart. Picard Medical’s most recent press release covered its second-quarter results on Aug. 19. It issued no press release dated Oct. 16.