HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday.
A number of other brokerages also recently weighed in on HTGM. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of HTG Molecular Diagnostics in a research note on Thursday, June 29th. Zacks Investment Research raised HTG Molecular Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.17.
Shares of HTG Molecular Diagnostics (NASDAQ:HTGM) opened at 1.90 on Tuesday. HTG Molecular Diagnostics has a 52-week low of $1.20 and a 52-week high of $3.60. The company’s 50-day moving average is $1.84 and its 200-day moving average is $1.84. The firm’s market cap is $21.75 million.
HTG Molecular Diagnostics (NASDAQ:HTGM) last issued its quarterly earnings data on Tuesday, August 8th. The medical research company reported ($0.60) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.60). The company had revenue of $1.76 million during the quarter, compared to the consensus estimate of $1.80 million. Equities research analysts forecast that HTG Molecular Diagnostics will post ($2.29) earnings per share for the current fiscal year.
In other news, major shareholder Holdings A/S Novo sold 47,162 shares of HTG Molecular Diagnostics stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $2.02, for a total transaction of $95,267.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 1,659,998 shares of company stock worth $3,073,696 in the last three months. 7.60% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. UBS Group AG bought a new position in HTG Molecular Diagnostics in the 1st quarter valued at $137,000. Two Sigma Securities LLC bought a new position in HTG Molecular Diagnostics in the 1st quarter valued at $150,000. Granahan Investment Management Inc. MA bought a new position in HTG Molecular Diagnostics in the 1st quarter valued at $228,000. Finally, Vanguard Group Inc. raised its position in HTG Molecular Diagnostics by 38.9% in the 2nd quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock valued at $359,000 after purchasing an additional 37,841 shares during the last quarter. 21.67% of the stock is currently owned by institutional investors and hedge funds.
About HTG Molecular Diagnostics
HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.
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