Fluidigm Co. (FLDM) Stock Rating Lowered by Zacks Investment Research
Fluidigm Co. (NASDAQ:FLDM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
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 price objective on shares of Fluidigm and gave the company a “buy” rating in a report on Thursday, February 9th.
Fluidigm (NASDAQ:FLDM) traded up 1.07% during trading on Friday, reaching $5.65. 180,636 shares of the company’s stock traded hands. The company has a 50 day moving average price of $5.18 and a 200-day moving average price of $6.06. The company’s market cap is $165.20 million. Fluidigm has a 12-month low of $4.31 and a 12-month high of $11.05.
Fluidigm (NASDAQ:FLDM) last announced its quarterly earnings data on Wednesday, February 8th. The medical research company reported ($0.61) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.61). Fluidigm had a negative net margin of 72.75% and a negative return on equity of 72.84%. The business had revenue of $25.10 million for the quarter, compared to analyst estimates of $25.91 million. During the same period last year, the business earned ($0.45) EPS. The company’s revenue was down 18.2% on a year-over-year basis. On average, equities research analysts forecast that Fluidigm will post ($2.26) EPS for the current fiscal year.
In related news, Director Samuel D. Colella bought 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average cost of $5.93 per share, with a total value 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Samuel D. Colella bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average cost of $5.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the director now directly owns 43,523 shares in the company, valued at $217,615. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FLDM. Citadel Advisors LLC bought a new position in Fluidigm during the third quarter worth approximately $237,000. Adage Capital Partners GP L.L.C. bought a new position in Fluidigm during the third quarter worth approximately $4,808,000. Russell Investments Group Ltd. bought a new position in Fluidigm during the fourth quarter worth approximately $16,144,000. FMR LLC bought a new position in Fluidigm during the fourth quarter worth approximately $1,165,000. Finally, Renaissance Technologies LLC increased its position in Fluidigm by 21.9% in the fourth quarter. Renaissance Technologies LLC now owns 451,300 shares of the medical research company’s stock worth $3,285,000 after buying an additional 81,000 shares during the period.
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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