GenMark Diagnostics Inc. (GNMK) Sees Strong Trading Volume
GenMark Diagnostics Inc. (NASDAQ:GNMK) saw unusually-strong trading volume on Thursday . Approximately 344,506 shares were traded during trading, an increase of 34% from the previous session’s volume of 256,749 shares.The stock last traded at $9.57 and had previously closed at $9.57.
Several research analysts have recently weighed in on GNMK shares. Needham & Company LLC started coverage on shares of GenMark Diagnostics in a report on Friday, June 17th. They set a “buy” rating and a $13.00 price objective for the company. Canaccord Genuity reissued a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, June 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. GenMark Diagnostics currently has a consensus rating of “Buy” and a consensus price target of $8.43.
The firm’s market capitalization is $427.02 million. The company’s 50 day moving average price is $8.45 and its 200 day moving average price is $6.43.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.01. During the same quarter in the prior year, the company earned ($0.24) EPS. The firm had revenue of $11.06 million for the quarter, compared to analyst estimates of $10.67 million. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts predict that GenMark Diagnostics Inc. will post ($1.23) EPS for the current year.
Other hedge funds recently added to or reduced their stakes in the company. I.G. Investment Management LTD. boosted its stake in GenMark Diagnostics by 0.7% in the fourth quarter. I.G. Investment Management LTD. now owns 134,589 shares of the company’s stock worth $1,044,000 after buying an additional 978 shares during the period. Casdin Capital LLC bought a new stake in GenMark Diagnostics during the fourth quarter worth approximately $2,406,000. Morgan Stanley boosted its stake in GenMark Diagnostics by 10,433.5% in the fourth quarter. Morgan Stanley now owns 1,338,286 shares of the company’s stock worth $10,385,000 after buying an additional 1,325,581 shares during the period. Finally, Jennison Associates LLC boosted its stake in GenMark Diagnostics by 7.3% in the fourth quarter. Jennison Associates LLC now owns 3,144,434 shares of the company’s stock worth $24,401,000 after buying an additional 214,822 shares during the period.
GenMark Diagnostics, Inc (GenMark) is a molecular diagnostics company. The Company focuses on developing and commercializing its eSensor detection technology. Its eSensor electrochemical technology detects multiple distinct biomarkers in a single sample. It sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States.
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