Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) dropped 3% during mid-day trading on Monday . The company traded as low as $9.62 and last traded at $9.68, with a volume of 125,535 shares changing hands. The stock had previously closed at $9.98.

GNMK has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, May 4th. Canaccord Genuity restated a “buy” rating on shares of GenMark Diagnostics in a report on Wednesday, June 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. GenMark Diagnostics presently has an average rating of “Buy” and a consensus price target of $8.43.

The stock’s market capitalization is $418.47 million. The stock has a 50 day moving average of $8.63 and a 200 day moving average of $6.45.

GenMark Diagnostics (NASDAQ:GNMK) last released its earnings results on Tuesday, May 3rd. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $11.06 million for the quarter, compared to analysts’ expectations of $10.67 million. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.24) earnings per share. Equities research analysts predict that GenMark Diagnostics Inc. will post ($1.23) EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of GenMark Diagnostics by 10,433.5% in the fourth quarter. Morgan Stanley now owns 1,338,286 shares of the company’s stock valued at $10,385,000 after buying an additional 1,325,581 shares during the period. Casdin Capital LLC bought a new stake in GenMark Diagnostics during the fourth quarter valued at approximately $2,406,000. 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 valued at $24,401,000 after buying an additional 214,822 shares in the last quarter. Finally, 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 valued at $1,044,000 after buying an additional 978 shares in the last quarter.

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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