Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) fell 6.1% during trading on Monday . The stock traded as low as $9.88 and last traded at $10.00, with a volume of 178,822 shares changing hands. The stock had previously closed at $10.65.

Several research firms recently commented on GNMK. Canaccord Genuity reiterated a “buy” rating and issued a $8.00 price target on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. JPMorgan Chase & Co. upped their price objective on shares of GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC assumed coverage on shares of GenMark Diagnostics in a research report on Friday, June 17th. They set a “buy” rating and a $13.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $9.57.

The stock’s 50-day moving average price is $9.28 and its 200 day moving average price is $6.70. The company’s market capitalization is $429.93 million.

GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. During the same period in the previous year, the business posted ($0.29) EPS. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.62 million. The firm’s quarterly revenue was up 63.6% compared to the same quarter last year. Analysts forecast that GenMark Diagnostics Inc. will post ($1.17) earnings per share for the current fiscal year.

Several hedge funds recently added to or reduced their stakes in the company. Morgan Stanley increased 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 last quarter. I.G. Investment Management LTD. increased 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 last quarter. Finally, Jennison Associates LLC increased 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 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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