GenMark Diagnostics, Inc (NASDAQ:GNMK) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,880,000 shares, a growth of 11.9% from the December 15th total of 1,680,000 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 280,200 shares, the short-interest ratio is currently 6.7 days.
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of GenMark Diagnostics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $7.00 in a research report on Wednesday, December 11th. Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. BidaskClub upgraded shares of GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, ValuEngine upgraded shares of GenMark Diagnostics from a “sell” rating to a “hold” rating in a research report on Thursday, December 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $9.67.
Shares of GenMark Diagnostics stock traded up $0.18 during mid-day trading on Thursday, reaching $4.86. 8,903 shares of the stock traded hands, compared to its average volume of 245,291. The business has a 50-day moving average of $5.18 and a 200 day moving average of $5.81. GenMark Diagnostics has a fifty-two week low of $4.47 and a fifty-two week high of $8.37. The stock has a market capitalization of $268.62 million, a PE ratio of -5.34 and a beta of 1.15. The company has a quick ratio of 2.11, a current ratio of 2.69 and a debt-to-equity ratio of 6.40.
GenMark Diagnostics (NASDAQ:GNMK) last issued its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The firm had revenue of $20.92 million for the quarter, compared to analysts’ expectations of $20.66 million. GenMark Diagnostics had a negative return on equity of 239.16% and a negative net margin of 60.63%. On average, equities research analysts expect that GenMark Diagnostics will post -0.81 EPS for the current fiscal year.
In other GenMark Diagnostics news, VP Sarah Hollis Winkler sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $5.62, for a total value of $30,910.00. Following the completion of the transaction, the vice president now owns 56,292 shares in the company, valued at $316,361.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Hany Massarany sold 7,744 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $5.55, for a total transaction of $42,979.20. Following the completion of the transaction, the chief executive officer now owns 792,468 shares of the company’s stock, valued at approximately $4,398,197.40. The disclosure for this sale can be found here. Insiders sold 51,268 shares of company stock worth $282,629 over the last three months. Corporate insiders own 5.24% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its stake in shares of GenMark Diagnostics by 104.0% in the 2nd quarter. Wells Fargo & Company MN now owns 205,226 shares of the medical equipment provider’s stock valued at $1,332,000 after buying an additional 104,607 shares during the period. Prudential Financial Inc. purchased a new stake in shares of GenMark Diagnostics during the second quarter worth $141,000. Bank of Montreal Can increased its position in shares of GenMark Diagnostics by 145.4% during the second quarter. Bank of Montreal Can now owns 7,687 shares of the medical equipment provider’s stock worth $50,000 after acquiring an additional 4,554 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of GenMark Diagnostics by 5.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 325,675 shares of the medical equipment provider’s stock worth $2,114,000 after acquiring an additional 16,551 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of GenMark Diagnostics by 156.6% during the second quarter. Renaissance Technologies LLC now owns 339,100 shares of the medical equipment provider’s stock worth $2,201,000 after acquiring an additional 206,965 shares during the period. 90.84% of the stock is currently owned by institutional investors.
GenMark Diagnostics Company Profile
GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
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