Avinger Inc. (NASDAQ:AVGR) shares fell 5.6% during mid-day trading on Tuesday . The company traded as low as $5.04 and last traded at $5.22, with a volume of 370,537 shares changing hands. The stock had previously closed at $5.53.

A number of brokerages have issued reports on AVGR. Zacks Investment Research raised Avinger from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Canaccord Genuity reissued a “buy” rating and set a $20.00 price objective on shares of Avinger in a report on Wednesday, March 30th. Finally, BTIG Research reissued a “buy” rating and set a $18.00 price objective on shares of Avinger in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.75.

The firm’s market capitalization is $64.99 million. The stock’s 50-day moving average price is $10.09 and its 200-day moving average price is $12.17.

Avinger (NASDAQ:AVGR) last released its quarterly earnings results on Wednesday, May 4th. The medical device company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.17) by $0.11. Equities analysts predict that Avinger Inc. will post ($4.26) EPS for the current fiscal year.

In related news, Director Donald A. Lucas sold 9,309 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $12.58, for a total value of $117,107.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John D. Simpson bought 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was bought at an average cost of $6.28 per share, for a total transaction of $204,100.00. The disclosure for this purchase can be found here.

An institutional investor recently bought a new position in Avinger stock. Thornburg Investment Management Inc. bought a new position in Avinger Inc. (NASDAQ:AVGR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 52,792 shares of the medical device company’s stock, valued at approximately $1,199,000. Thornburg Investment Management Inc. owned approximately 0.42% of Avinger as of its most recent SEC filing.

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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