GenMark Diagnostics Inc. (GNMK) Sees Strong Trading Volume
Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) saw unusually-high trading volume on Thursday . Approximately 344,506 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 256,749 shares.The stock last traded at $9.57 and had previously closed at $9.57.
GNMK has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. Canaccord Genuity reissued a “buy” rating and issued a $8.00 price target on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.43.
The stock’s market capitalization is $422.75 million. The firm has a 50-day moving average price of $8.34 and a 200 day moving average price of $6.42.
GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.01. The company had revenue of $11.06 million for the quarter, compared to the consensus estimate of $10.67 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. GenMark Diagnostics’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that GenMark Diagnostics Inc. will post ($1.23) earnings per share for the current year.
Several institutional investors recently modified their holdings of GNMK. Casdin Capital LLC bought a new position in shares of GenMark Diagnostics during the fourth quarter worth approximately $2,406,000. 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 worth $10,385,000 after buying an additional 1,325,581 shares during the period. I.G. Investment Management LTD. raised its position in shares of 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 period. Finally, Jennison Associates LLC raised its position in shares of 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 period.
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.