Avinger Inc. (AVGR) Reaches New 12-Month Low at $6.16
Shares of Avinger Inc. (NASDAQ:AVGR) hit a new 52-week low on Friday . The company traded as low as $6.16 and last traded at $6.31, with a volume of 322,058 shares. The stock had previously closed at $6.49.
A number of brokerages have recently weighed in on AVGR. Zacks Investment Research upgraded Avinger from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Canaccord Genuity reiterated a “buy” rating on shares of Avinger in a research report on Tuesday, July 12th. Finally, BTIG Research reiterated a “buy” rating and set a $18.00 price target on shares of Avinger in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.75.
The stock has a 50-day moving average price of $10.95 and a 200 day moving average price of $12.87. The firm’s market capitalization is $80.85 million.
Avinger (NASDAQ:AVGR) last released its earnings results on Wednesday, May 4th. The medical device company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by $0.11. On average, equities research analysts anticipate that Avinger Inc. will post ($4.23) earnings per share for the current fiscal year.
In related news, insider Himanshu Patel sold 10,000 shares of Avinger stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $13.40, for a total transaction of $134,000.00. Following the sale, the insider now directly owns 87,220 shares of the company’s stock, valued at $1,168,748. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Donald A. Lucas sold 9,309 shares of Avinger stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $12.58, for a total value of $117,107.22. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in AVGR. Thornburg Investment Management Inc. purchased a new stake in Avinger during the fourth quarter worth $1,199,000. EAM Investors LLC increased its stake in Avinger by 0.4% in the fourth quarter. EAM Investors LLC now owns 116,261 shares of the medical device company’s stock worth $2,640,000 after buying an additional 457 shares during the period. Finally, Paradigm Capital Management Inc. NY increased its stake in Avinger by 41.8% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 367,056 shares of the medical device company’s stock worth $8,336,000 after buying an additional 108,222 shares during the 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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