HTG Molecular Diagnostics, Inc. (HTGM) Sees Large Volume Increase
HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) shares saw an uptick in trading volume on Friday . 3,593,343 shares traded hands during mid-day trading, an increase of 697% from the previous session’s volume of 450,908 shares.The stock last traded at $1.93 and had previously closed at $1.66.
HTGM has been the subject of several research analyst reports. Zacks Investment Research downgraded HTG Molecular Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 15th. ValuEngine raised HTG Molecular Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Finally, HC Wainwright set a $6.00 price objective on HTG Molecular Diagnostics and gave the company a “buy” rating in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $5.75.
The company’s 50-day moving average price is $2.19 and its 200 day moving average price is $3.38. The stock’s market capitalization is $22.09 million.
HTG Molecular Diagnostics (NASDAQ:HTGM) last issued its earnings results on Tuesday, August 8th. The medical research company reported ($0.60) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60). HTG Molecular Diagnostics had a negative return on equity of 1,538.49% and a negative net margin of 432.74%. The company had revenue of $1.76 million during the quarter, compared to the consensus estimate of $1.80 million. On average, equities analysts anticipate that HTG Molecular Diagnostics, Inc. will post ($2.29) earnings per share for the current fiscal year.
In other HTG Molecular Diagnostics news, major shareholder Holdings A/S Novo sold 1,149,813 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $1.81, for a total transaction of $2,081,161.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 1,659,998 shares of company stock worth $3,073,696. Insiders own 7.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of HTG Molecular Diagnostics by 38.9% in the second quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock worth $359,000 after buying an additional 37,841 shares during the period. Granahan Investment Management Inc. MA purchased a new position in shares of HTG Molecular Diagnostics during the first quarter worth about $228,000. Two Sigma Securities LLC purchased a new position in shares of HTG Molecular Diagnostics during the first quarter worth about $150,000. UBS Group AG purchased a new position in shares of HTG Molecular Diagnostics during the first quarter worth about $137,000. Finally, Renaissance Technologies LLC raised its position in shares of HTG Molecular Diagnostics by 32.3% in the fourth quarter. Renaissance Technologies LLC now owns 58,200 shares of the medical research company’s stock worth $130,000 after buying an additional 14,206 shares during the last quarter. Institutional investors and hedge funds own 21.67% of the company’s stock.
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HTG Molecular Diagnostics Company Profile
HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.