Sequenom Inc. (SQNM) Sees Unusually-High Trading Volume
Sequenom Inc. (NASDAQ:SQNM) shares saw strong trading volume on Wednesday . 31,752,700 shares changed hands during mid-day trading, an increase of 1,367% from the previous session’s volume of 2,163,786 shares.The stock last traded at $2.36 and had previously closed at $0.85.
Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Sequenom from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. William Blair reissued a “market perform” rating on shares of Sequenom in a research note on Wednesday, June 29th. Finally, Jefferies Group reissued a “hold” rating and issued a $0.75 price objective (down from $1.50) on shares of Sequenom in a research note on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Sequenom currently has an average rating of “Hold” and a consensus target price of $1.25.
The company’s market cap is $280.16 million. The company has a 50 day moving average of $1.02 and a 200 day moving average of $1.28.
Sequenom (NASDAQ:SQNM) last announced its quarterly earnings data on Wednesday, May 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The company earned $27.57 million during the quarter, compared to analysts’ expectations of $27.85 million. During the same quarter in the previous year, the business earned $0.11 EPS. Sequenom’s revenue was down 27.1% compared to the same quarter last year. Equities research analysts predict that Sequenom Inc. will post ($0.33) earnings per share for the current fiscal year.
In other news, CEO Den Boom Dirk Van acquired 30,000 shares of Sequenom stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average cost of $1.13 per share, for a total transaction of $33,900.00. Following the completion of the purchase, the chief executive officer now directly owns 133,044 shares of the company’s stock, valued at approximately $150,339.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Sequenom, Inc is a life sciences company. The Company serves patients and physicians by providing early patient management information. The Company operates through Sequenom Laboratories segment. It conducts its business as a molecular diagnostics clinical laboratory located in San Diego, California and Raleigh-Durham, North Carolina.
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