HTG Molecular Diagnostics, Inc. (HTGM) Trading Up 16.3%
HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM)’s share price was up 16.3% during mid-day trading on Monday . The stock traded as high as $2.25 and last traded at $1.93. Approximately 3,593,343 shares traded hands during trading, an increase of 633% from the average daily volume of 490,252 shares. The stock had previously closed at $1.66.
Several equities analysts have recently issued reports on HTGM shares. HC Wainwright set a $6.00 price objective on shares of HTG Molecular Diagnostics and gave the company a “buy” rating in a report on Wednesday, August 9th. Rodman & Renshaw upped their price objective on shares of HTG Molecular Diagnostics from $4.50 to $6.00 and gave the company a “buy” rating in a report on Tuesday, May 16th. Zacks Investment Research upgraded shares of HTG Molecular Diagnostics from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a report on Thursday, May 11th. Finally, ValuEngine upgraded shares of HTG Molecular Diagnostics from a “strong sell” rating to a “sell” rating in a report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. HTG Molecular Diagnostics has a consensus rating of “Hold” and a consensus target price of $5.75.
The stock’s 50-day moving average is $2.16 and its 200-day moving average is $3.41. The company’s market cap is $21.06 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 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 business had revenue of $1.76 million for the quarter, compared to analyst estimates of $1.80 million. Analysts forecast that HTG Molecular Diagnostics, Inc. will post ($2.29) EPS for the current year.
In other news, major shareholder Holdings A/S Novo sold 80,586 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $2.07, for a total transaction of $166,813.02. Following the sale, the insider now owns 1,225,085 shares of the company’s stock, valued at approximately $2,535,925.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,659,998 shares of company stock worth $3,073,696 in the last three months. Corporate insiders own 7.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of HTG Molecular Diagnostics by 32.3% during the 4th quarter. Renaissance Technologies LLC now owns 58,200 shares of the medical research company’s stock worth $130,000 after acquiring an additional 14,206 shares in the last quarter. Granahan Investment Management Inc. MA acquired a new position in HTG Molecular Diagnostics during the first quarter worth approximately $228,000. UBS Group AG acquired a new position in HTG Molecular Diagnostics during the first quarter worth approximately $137,000. Two Sigma Securities LLC acquired a new position in HTG Molecular Diagnostics during the first quarter worth approximately $150,000. Finally, Vanguard Group Inc. increased its position in HTG Molecular Diagnostics by 38.9% during 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. 21.67% of the stock is currently owned by institutional investors and hedge funds.
About HTG Molecular Diagnostics
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.