Ladenburg Thalmann Financial Services Downgrades CombiMatrix Corporation (CBMX) to Neutral
CombiMatrix Corporation (NASDAQ:CBMX) was downgraded by analysts at Ladenburg Thalmann Financial Services from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports.
Separately, Aegis started coverage on shares of CombiMatrix Corporation in a report on Thursday, July 13th. They set a “buy” rating and a $8.10 target price for the company.
Shares of CombiMatrix Corporation (NASDAQ:CBMX) traded up 7.48% on Friday, hitting $7.90. The company had a trading volume of 313,191 shares. The company has a 50-day moving average of $5.32 and a 200 day moving average of $4.88. The stock’s market cap is $22.99 million. CombiMatrix Corporation has a 12 month low of $2.15 and a 12 month high of $7.90.
CombiMatrix Corporation (NASDAQ:CBMX) last issued its earnings results on Thursday, August 3rd. The medical research company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.11. The firm had revenue of $4.24 million during the quarter, compared to analysts’ expectations of $3.89 million. CombiMatrix Corporation had a negative net margin of 15.53% and a negative return on equity of 35.27%. Analysts anticipate that CombiMatrix Corporation will post ($0.70) EPS for the current fiscal year.
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A hedge fund recently raised its stake in CombiMatrix Corporation stock. Essex Investment Management Co. LLC raised its position in CombiMatrix Corporation (NASDAQ:CBMX) by 94.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 25,878 shares of the medical research company’s stock after buying an additional 12,564 shares during the period. Essex Investment Management Co. LLC owned 0.89% of CombiMatrix Corporation worth $138,000 at the end of the most recent reporting period. 11.06% of the stock is currently owned by institutional investors.
About CombiMatrix Corporation
CombiMatrix Corporation is a provider of molecular diagnostic solutions. The Company specializes in pre-implantation genetic screening, miscarriage analysis, prenatal diagnosis and pediatric developmental disorders, offering deoxyribonucleic acid-based testing for the detection of genetic abnormalities, which cannot be identified through traditional methodologies.
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