Zacks Investment Research Lowers Histogenics (HSGX) to Sell

Zacks Investment Research downgraded shares of Histogenics (NASDAQ:HSGX) from a hold rating to a sell rating in a research report report published on Wednesday.

According to Zacks, “Histogenics Corporation is a regenerative medicine company. It is focused on developing and commercializing products in the musculoskeletal segment. The company is developing NeoCart(R) product to provide treatment in the orthopedic space. Histogenics Corporation is headquartered in Waltham, Massachusetts. “

Other analysts have also recently issued reports about the stock. Brookline Cap M reaffirmed a buy rating on shares of Histogenics in a report on Wednesday, August 1st. HC Wainwright reaffirmed a buy rating and set a $3.50 target price on shares of Histogenics in a report on Monday, August 13th. Needham & Company LLC upped their target price on shares of Histogenics to $5.00 and gave the company a buy rating in a report on Thursday, September 6th. Finally, BTIG Research cut shares of Histogenics from a buy rating to a neutral rating and set a $3.50 target price for the company. in a report on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $3.25.

HSGX stock traded down $0.03 during midday trading on Wednesday, reaching $0.51. 1,795,036 shares of the company’s stock traded hands, compared to its average volume of 8,070,151. Histogenics has a 52-week low of $0.50 and a 52-week high of $3.35. The stock has a market cap of $15.64 million, a P/E ratio of -0.52 and a beta of 1.02.

Histogenics (NASDAQ:HSGX) last announced its earnings results on Thursday, November 8th. The biotechnology company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.05). On average, sell-side analysts predict that Histogenics will post -0.83 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of HSGX. BlackRock Inc. boosted its position in shares of Histogenics by 72.0% in the second quarter. BlackRock Inc. now owns 54,753 shares of the biotechnology company’s stock worth $137,000 after purchasing an additional 22,927 shares during the period. DRW Securities LLC bought a new position in shares of Histogenics in the second quarter worth approximately $242,000. JPMorgan Chase & Co. bought a new position in shares of Histogenics in the first quarter worth approximately $320,000. Finally, Renaissance Technologies LLC boosted its position in shares of Histogenics by 6.1% in the second quarter. Renaissance Technologies LLC now owns 384,329 shares of the biotechnology company’s stock worth $961,000 after purchasing an additional 22,133 shares during the period. Institutional investors and hedge funds own 45.88% of the company’s stock.

About Histogenics

Histogenics Corporation, a clinical-stage company, focuses on the development of restorative cell therapies in the United States. The company offers NeoCart, a tissue implant, which is in Phase III clinical trial to treat tissue injury in the field of orthopedics, specifically cartilage damage in the knee.

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