Fluidigm Corporation (FLDM) Rating Lowered to Sell at Zacks Investment Research

Fluidigm Corporation (NASDAQ:FLDM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, May 12th.

According to Zacks, “Fluidigm Corporation operates as a biotech tools company that creates microfluidic-based chips and instrumentation for biological research. Products offered by the Company include BioMark HD System- a real time PCR; EP1 system for SNP genotyping; Access Array System-an Integrated Fluidic Circuit (IFC); TOPAZ system for protein crystallography; Dynamic Array integrated fluidic circuits (IFCs); and Access Array Assay Design Services. The Company’s products find its application in Gene Expression, Single-Cell Gene Expression, SNP Genotyping, Targeted Resequencing, Sample Quantitation, Copy Number Variation and Protein Crystallization. Fluidigm Corporation is based in San Francisco, California. “

Separately, Cantor Fitzgerald set a $9.00 target price on shares of Fluidigm Corporation and gave the stock a “buy” rating in a report on Thursday, February 9th.

Shares of Fluidigm Corporation (NASDAQ:FLDM) traded down 4.44% during mid-day trading on Friday, hitting $3.66. The stock had a trading volume of 193,907 shares. The firm’s market cap is $107.22 million. Fluidigm Corporation has a 52-week low of $3.56 and a 52-week high of $10.94. The firm has a 50 day moving average price of $4.89 and a 200 day moving average price of $5.94.

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In related news, Director Samuel D. Colella purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were bought at an average cost of $5.93 per share, for a total transaction of $44,475.00. Following the transaction, the director now directly owns 43,523 shares of the company’s stock, valued at approximately $258,091.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Evan/ Fa Jones sold 10,900 shares of Fluidigm Corporation stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $4.54, for a total transaction of $49,486.00. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Levin Capital Strategies L.P. raised its position in Fluidigm Corporation by 0.6% in the first quarter. Levin Capital Strategies L.P. now owns 5,789,282 shares of the medical research company’s stock worth $32,941,000 after buying an additional 33,529 shares during the period. Russell Investments Group Ltd. increased its position in shares of Fluidigm Corporation by 0.9% in the first quarter. Russell Investments Group Ltd. now owns 2,258,937 shares of the medical research company’s stock worth $12,849,000 after buying an additional 19,725 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Fluidigm Corporation by 58.1% in the first quarter. Neuberger Berman Group LLC now owns 1,924,408 shares of the medical research company’s stock worth $10,950,000 after buying an additional 707,410 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Fluidigm Corporation by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,181,883 shares of the medical research company’s stock worth $6,725,000 after buying an additional 19,669 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Fluidigm Corporation by 2.4% in the first quarter. Wellington Management Group LLP now owns 630,277 shares of the medical research company’s stock worth $3,587,000 after buying an additional 14,814 shares during the period. Hedge funds and other institutional investors own 92.22% of the company’s stock.

Fluidigm Corporation Company Profile

Fluidigm Corporation creates, manufactures and markets technologies and life science tools focused on the exploration and analysis of single cells, as well as the industrial application of genomics, based upon the Company’s core microfluidics and mass cytometry technologies. The Company operates in the development, manufacturing and commercialization of life science tools for the life science and Ag-Bio industries segment.

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