Sabby Management, LLC
disclosed that they own 5.7% of TrovaGene, Inc. (NASDAQ:TROV) in a Form 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, July 17th. The investor owns 2,124,250 shares of the stock valued at approximately $1,805,613. The reporting parties listed on the disclosure included Sabby Volatility Warrant Master Fund, Ltd, Sabby Management, LLC and Hal Mintz. The disclosure is available through EDGAR at this link.
Sabby Management, LLC
provided the following explanation of their ownership:
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Separately, KCG Holdings Inc. increased its stake in TrovaGene by 560.1% in the first quarter. KCG Holdings Inc. now owns 210,301 shares of the medical research company’s stock worth $242,000 after buying an additional 178,440 shares during the period. Institutional investors and hedge funds own 15.19% of the company’s stock.
TrovaGene, Inc. (NASDAQ:TROV) opened at 0.85 on Friday. TrovaGene, Inc. has a 1-year low of $0.61 and a 1-year high of $5.98. The stock has a 50 day moving average of $1.04 and a 200-day moving average of $1.22. The company’s market cap is $31.68 million.
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A number of equities research analysts recently weighed in on the company. Maxim Group set a $4.00 target price on TrovaGene and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of TrovaGene in a report on Tuesday.
Trovagene, Inc (TrovaGene) is a molecular diagnostic company. The Company focuses on the development and commercialization of a molecular diagnostic technology for use in disease detection and monitoring across a range of medical disciplines. Its primary internal focus is to leverage its cell-free molecular diagnostic platform to facilitate improvements in the field of oncology, while its external focus includes entering into license agreements or collaborations to develop its technology in areas, such as infectious disease, transplant medicine and prenatal genetics.
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