Biomerica (NASDAQ:BMRA) Director Acquires $50,000.00 in Stock

Biomerica, Inc. (NASDAQ:BMRA) Director M. Huff Gary bought 31,250 shares of the stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $1.60 per share, with a total value of $50,000.00. Following the acquisition, the director directly owned 51,250 shares in the company, valued at approximately $82,000. This trade represents a 156.25% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Biomerica Stock Up 1.9%

BMRA stock opened at $2.14 on Friday. The business’s fifty day moving average is $1.67 and its 200-day moving average is $1.99. The company has a market cap of $6.61 million, a P/E ratio of -2.40 and a beta of 0.35. Biomerica, Inc. has a twelve month low of $1.45 and a twelve month high of $3.22.

Hedge Funds Weigh In On Biomerica

An institutional investor recently bought a new stake in Biomerica stock. BlackRock Inc. acquired a new position in shares of Biomerica, Inc. (NASDAQ:BMRA) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica as of its most recent filing with the Securities & Exchange Commission. 22.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on BMRA shares. Weiss Ratings cut shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Citizens Jmp began coverage on Biomerica in a report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 target price on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Biomerica presently has an average rating of “Sell” and an average target price of $9.00.

About Biomerica

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.