Trovagene Inc. (TROV) Rating Lowered to Hold at Zacks Investment Research
Trovagene Inc. (NASDAQ:TROV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Xenomics is a molecular diagnostic company that focuses on the development of DNA-based tests using Transrenal DNA. Xenomics’ patented technology uses safe and simple urine collection and can be applied to a broad range of applications, including prenatal testing, tumor detection and monitoring, tissue transplantation, infectious disease detection, genetic testing for forensic identity determination, drug development, and research to counter bioterrorism. “
Several other research analysts have also recently weighed in on the company. Cantor Fitzgerald upgraded Trovagene from a “hold” rating to a “buy” rating and boosted their target price for the stock from $5.00 to $7.00 in a report on Monday, August 8th. Piper Jaffray Cos. set a $4.00 price objective on Trovagene and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Maxim Group upped their price objective on Trovagene from $9.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.13.
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Shares of Trovagene (NASDAQ:TROV) traded down 2.11% during mid-day trading on Tuesday, reaching $4.65. The company’s stock had a trading volume of 286,022 shares. The stock’s market cap is $140.18 million. The stock has a 50 day moving average of $5.22 and a 200-day moving average of $5.03. Trovagene has a one year low of $2.85 and a one year high of $7.22.
Trovagene (NASDAQ:TROV) last issued its earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.03. Trovagene had a negative return on equity of 80.13% and a negative net margin of 8,495.00%. On average, equities research analysts expect that Trovagene will post ($1.34) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Bridger Management LLC purchased a new stake in shares of Trovagene during the first quarter worth about $15,301,000. Vanguard Group Inc. raised its stake in shares of Trovagene by 3.2% in the second quarter. Vanguard Group Inc. now owns 979,014 shares of the company’s stock worth $4,435,000 after buying an additional 30,369 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Trovagene by 6.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 660,640 shares of the company’s stock worth $3,072,000 after buying an additional 40,100 shares during the last quarter. State Street Corp raised its stake in shares of Trovagene by 21.3% in the first quarter. State Street Corp now owns 390,759 shares of the company’s stock worth $1,819,000 after buying an additional 68,557 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Trovagene by 1.3% in the first quarter. Geode Capital Management LLC now owns 183,442 shares of the company’s stock worth $853,000 after buying an additional 2,363 shares during the last quarter. 31.06% of the stock is currently owned by institutional investors.
Trovagene Company Profile
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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