TrovaGene Inc (NASDAQ:TROV) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,056,962 shares, an increase of 117.5% from the October 15th total of 945,820 shares. Based on an average daily trading volume, of 3,334,693 shares, the days-to-cover ratio is currently 0.6 days. Currently, 12.7% of the shares of the stock are sold short.
Shares of TROV opened at $0.79 on Friday. TrovaGene has a 52-week low of $0.65 and a 52-week high of $8.40. The firm has a market capitalization of $13.27 million, a price-to-earnings ratio of -0.12 and a beta of 0.14.
TrovaGene (NASDAQ:TROV) last issued its quarterly earnings data on Wednesday, November 7th. The medical research company reported ($0.18) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.15. TrovaGene had a negative return on equity of 188.93% and a negative net margin of 2,970.66%. The firm had revenue of $0.09 million during the quarter.
Several analysts recently commented on the company. ValuEngine raised TrovaGene from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research raised TrovaGene from a “sell” rating to a “hold” rating in a research note on Saturday, September 29th. Finally, Maxim Group reaffirmed a “buy” rating on shares of TrovaGene in a research note on Monday, August 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $4.75.
An institutional investor recently raised its position in TrovaGene stock. Renaissance Technologies LLC raised its holdings in TrovaGene Inc (NASDAQ:TROV) by 58.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,802 shares of the medical research company’s stock after purchasing an additional 75,131 shares during the quarter. Renaissance Technologies LLC owned approximately 1.15% of TrovaGene worth $157,000 as of its most recent SEC filing. 8.89% of the stock is currently owned by institutional investors and hedge funds.
TrovaGene Company Profile
Trovagene, Inc, a clinical-stage, precision medicine oncology therapeutics company, develops oncology therapeutics for cancer care by leveraging its proprietary Precision Cancer Monitoring (PCM) technology in tumor genomics. Its lead drug candidate, PCM-075, is a Polo-like Kinase 1 selective adenosine triphosphate competitive inhibitor.
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