Avinger Inc. (NASDAQ:AVGR) shares dropped 5.3% on Monday . The company traded as low as $4.61 and last traded at $4.68, with a volume of 146,713 shares changing hands. The stock had previously closed at $4.94.

AVGR has been the topic of a number of recent research reports. BTIG Research reissued a “buy” rating and issued a $18.00 target price on shares of Avinger in a report on Friday, July 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of Avinger in a research note on Tuesday, July 12th. Finally, Zacks Investment Research raised Avinger from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Avinger has an average rating of “Hold” and an average target price of $18.75.

The company has a 50-day moving average of $9.39 and a 200-day moving average of $11.88. The company’s market cap is $57.25 million.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Monday, August 1st. The medical device company reported ($1.06) earnings per share for the quarter. The company earned $4.70 million during the quarter, compared to the consensus estimate of $3.05 million. On average, analysts expect that Avinger Inc. will post ($4.26) EPS for the current fiscal year.

In other news, VP John D. Simpson bought 32,500 shares of Avinger stock in a transaction on Wednesday, July 20th. The stock was acquired at an average price of $6.28 per share, with a total value of $204,100.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Himanshu Patel sold 10,000 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $13.40, for a total value of $134,000.00. Following the transaction, the insider now directly owns 87,220 shares of the company’s stock, valued at approximately $1,168,748. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Avinger stock. Paradigm Capital Management Inc. NY boosted its position in shares of Avinger Inc. (NASDAQ:AVGR) by 41.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 367,056 shares of the medical device company’s stock after buying an additional 108,222 shares during the period. Paradigm Capital Management Inc. NY owned approximately 2.91% of Avinger worth $8,336,000 at the end of the most recent reporting period.

Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses to introduce products based on its lumivascular platform, which is an intravascular image-guided system.

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