HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) saw unusually-high trading volume on Tuesday . Approximately 1,299,937 shares traded hands during trading, an increase of 163% from the previous session’s volume of 495,000 shares.The stock last traded at $1.95 and had previously closed at $1.90.
HTGM has been the subject of several research reports. Rodman & Renshaw boosted 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. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of HTG Molecular Diagnostics in a report on Thursday, June 29th. Zacks Investment Research cut shares of HTG Molecular Diagnostics from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, ValuEngine raised shares of HTG Molecular Diagnostics from a “strong sell” rating to a “sell” rating in a report on Monday, July 17th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.75.
The stock’s market capitalization is $22.32 million. The firm has a 50-day moving average price of $1.90 and a 200-day moving average price of $2.55.
HTG Molecular Diagnostics (NASDAQ:HTGM) last posted its quarterly earnings results on Tuesday, August 8th. The medical research company reported ($0.60) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.60). The company had revenue of $1.76 million during the quarter, compared to analyst estimates of $1.80 million. HTG Molecular Diagnostics had a negative net margin of 432.74% and a negative return on equity of 1,538.49%. Equities research analysts anticipate 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 HTG Molecular Diagnostics stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $2.07, for a total transaction of $166,813.02. Following the completion of the transaction, the insider now directly owns 1,225,085 shares of the company’s stock, valued at approximately $2,535,925.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 1,659,998 shares of company stock valued at $3,073,696. Insiders own 7.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. UBS Group AG purchased a new position in shares of HTG Molecular Diagnostics during the 1st quarter valued at approximately $137,000. Two Sigma Securities LLC purchased a new position in shares of HTG Molecular Diagnostics during the 1st quarter valued at approximately $150,000. Granahan Investment Management Inc. MA purchased a new position in shares of HTG Molecular Diagnostics during the 1st quarter valued at approximately $228,000. Finally, Vanguard Group Inc. increased its holdings in shares of HTG Molecular Diagnostics by 38.9% during the 2nd quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock valued at $359,000 after purchasing an additional 37,841 shares in the last quarter. 21.67% of the stock is owned by hedge funds and other institutional investors.
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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.
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