GenMark Diagnostics (GNMK) Trading 5.6% Higher

GenMark Diagnostics, Inc (NASDAQ:GNMK) traded up 5.6% during mid-day trading on Friday . The stock traded as high as $4.75 and last traded at $4.70. 674,120 shares traded hands during mid-day trading, an increase of 59% from the average session volume of 424,659 shares. The stock had previously closed at $4.45.

Several equities research analysts recently issued reports on the company. Bank of America assumed coverage on GenMark Diagnostics in a research note on Monday, September 18th. They issued a “buy” rating and a $13.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $13.00 price target on shares of GenMark Diagnostics in a research note on Thursday, August 31st. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of GenMark Diagnostics in a research note on Wednesday, October 4th. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price target on shares of GenMark Diagnostics in a research note on Monday, October 30th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of GenMark Diagnostics in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. GenMark Diagnostics has a consensus rating of “Hold” and an average price target of $11.80.

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.77 and a current ratio of 2.97.

GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). GenMark Diagnostics had a negative net margin of 116.76% and a negative return on equity of 100.33%. The firm had revenue of $11.60 million for the quarter, compared to analyst estimates of $14.56 million. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. equities analysts forecast that GenMark Diagnostics, Inc will post -1.17 earnings per share for the current fiscal year.

In other news, Director Michael Kagnoff acquired 20,000 shares of the stock in a transaction on Monday, November 6th. The stock was acquired at an average cost of $4.13 per share, for a total transaction of $82,600.00. Following the completion of the transaction, the director now directly owns 64,413 shares in the company, valued at $266,025.69. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hany Massarany sold 8,252 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $4.74, for a total transaction of $39,114.48. Following the transaction, the insider now owns 362,957 shares of the company’s stock, valued at $1,720,416.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,650 shares of company stock valued at $471,189. Company insiders own 7.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlueCrest Capital Management Ltd acquired a new position in GenMark Diagnostics during the second quarter valued at approximately $126,000. Legal & General Group Plc raised its position in GenMark Diagnostics by 2.1% during the second quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock valued at $137,000 after purchasing an additional 240 shares in the last quarter. Susquehanna International Group LLP acquired a new position in GenMark Diagnostics during the second quarter valued at approximately $137,000. Wrapmanager Inc. acquired a new position in GenMark Diagnostics during the third quarter valued at approximately $172,000. Finally, OLD National Bancorp IN acquired a new position in GenMark Diagnostics during the third quarter valued at approximately $217,000.

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About GenMark Diagnostics

GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.

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