GenMark Diagnostics Inc. (GNMK) Sees Large Volume Increase
Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) saw strong trading volume on Friday . 465,208 shares traded hands during mid-day trading, an increase of 38% from the previous session’s volume of 337,425 shares.The stock last traded at $8.77 and had previously closed at $8.74.
Several equities research analysts recently commented on the company. Zacks Investment Research raised GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, August 2nd. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price target on shares of GenMark Diagnostics in a research note on Friday, July 29th. JPMorgan Chase & Co. boosted their target price on GenMark Diagnostics from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday, July 29th. Finally, Needham & Company LLC started coverage on GenMark Diagnostics in a report on Friday, June 17th. They issued a “buy” rating and a $13.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $10.39.
The company has a 50-day moving average price of $9.53 and a 200 day moving average price of $7.17. The firm’s market capitalization is $376.19 million.
GenMark Diagnostics (NASDAQ:GNMK) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.03. During the same period in the prior year, the business earned ($0.29) EPS. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.62 million. The company’s revenue for the quarter was up 63.6% compared to the same quarter last year. Equities research analysts anticipate that GenMark Diagnostics Inc. will post ($1.17) EPS for the current year.
In other news, SVP Michael Gleeson sold 7,500 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $9.00, for a total transaction of $67,500.00. Following the sale, the senior vice president now owns 246,934 shares of the company’s stock, valued at $2,222,406. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
An institutional investor recently raised its position in GenMark Diagnostics stock. Schwab Charles Investment Management Inc. boosted its position in GenMark Diagnostics Inc. (NASDAQ:GNMK) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 142,024 shares of the company’s stock after buying an additional 5,481 shares during the period. Schwab Charles Investment Management Inc. owned 0.33% of GenMark Diagnostics worth $1,103,000 as of its most recent SEC filing.
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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