HTG Molecular Diagnostics’ (HTGM) Buy Rating Reiterated at HC Wainwright
HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday. They currently have a $6.00 price objective on the medical research company’s stock. HC Wainwright’s price objective would indicate a potential upside of 237.08% from the stock’s current price.
HTGM has been the subject of a number of other reports. ValuEngine cut HTG Molecular Diagnostics from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Rodman & Renshaw increased their price objective on HTG Molecular Diagnostics from $4.50 to $6.00 and gave the company a “buy” rating in a report on Tuesday, May 16th. Finally, Zacks Investment Research downgraded HTG Molecular Diagnostics from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.75.
Shares of HTG Molecular Diagnostics (NASDAQ:HTGM) traded down 5.32% during midday trading on Tuesday, hitting $1.78. The company had a trading volume of 268,296 shares. The stock’s market capitalization is $20.38 million. HTG Molecular Diagnostics has a one year low of $1.20 and a one year high of $13.25. The stock’s 50-day moving average price is $1.88 and its 200-day moving average price is $2.33.
HTG Molecular Diagnostics (NASDAQ:HTGM) last announced its quarterly earnings results on Tuesday, August 8th. The medical research company reported ($0.60) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.60). HTG Molecular Diagnostics had a negative return on equity of 1,538.49% and a negative net margin of 432.74%. The company had revenue of $1.76 million during the quarter, compared to analysts’ expectations of $1.80 million. Analysts predict that HTG Molecular Diagnostics will post ($2.42) EPS for the current year.
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In related news, major shareholder Holdings A/S Novo sold 1,149,813 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $1.81, for a total value of $2,081,161.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,659,998 shares of company stock valued at $3,073,696 over the last 90 days. 7.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in HTG Molecular Diagnostics by 38.9% in the second 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 period. Granahan Investment Management Inc. MA acquired a new stake in HTG Molecular Diagnostics in the first quarter valued at $228,000. Two Sigma Securities LLC acquired a new stake in HTG Molecular Diagnostics in the first quarter valued at $150,000. Finally, UBS Group AG acquired a new stake in HTG Molecular Diagnostics in the first quarter valued at $137,000. Institutional investors and hedge funds own 21.67% of the company’s stock.
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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