GenMark Diagnostics Inc. (GNMK) Sees Unusually-High Trading Volume
GenMark Diagnostics Inc. (NASDAQ:GNMK) saw an uptick in trading volume on Friday . 465,208 shares changed 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.
A number of research firms have issued reports on GNMK. Canaccord Genuity restated a “buy” rating and issued a $8.00 price objective on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. Needham & Company LLC restated a “buy” rating on shares of GenMark Diagnostics in a research report on Wednesday, May 4th. Zacks Investment Research upgraded shares of GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GenMark Diagnostics from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.39.
The company’s market cap is $376.19 million. The stock’s 50-day moving average is $9.56 and its 200 day moving average is $7.14.
GenMark Diagnostics (NASDAQ:GNMK) last posted its earnings results on Thursday, July 28th. The company reported ($0.30) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. The company had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.62 million. The business’s revenue was up 63.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) earnings per share. On average, equities analysts forecast that GenMark Diagnostics Inc. will post ($1.17) EPS for the current fiscal year.
In other GenMark Diagnostics news, SVP Michael Gleeson sold 7,500 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $9.00, for a total transaction of $67,500.00. Following the completion of the transaction, the senior vice president now owns 246,934 shares in the company, valued at $2,222,406. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in GenMark Diagnostics stock. Schwab Charles Investment Management Inc. raised its stake in shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting 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.
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