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Genzyme to sell $3.8M in Abiomed shares

Thu, 05/26/2011 - 8:33am
Mass High Tech: The Journal of New England Technology

Genzyme Corp. plans to sell 200,000 of the shares it holds in Abiomed Inc. (Nasdaq: ABMD), according to a regulatory document Genzyme filed on Wednesday – a stake worth $3.8 million at Abiomed’s Wednesday closing price.

Abiomed, a Danvers-based medical device maker, has been on an impressive run in 2011 – nearly doubling its stock value since Jan. 1. On Wednesday, the company closed at $18.91 per share. Shares climbed 6 percent in the past week alone, after Abiomed last week announced fourth-quarter revenue up 24 percent, and a narrowing loss, on the strength of sales of its Impella heart pump.

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