Talis Biomedical (NASDAQ:TLIS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Talis Biomedical (NASDAQ:TLIS) from a hold rating to a sell rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Talis Biomedical Corporation engaged in developing and commercializing products for infectious diseases at the point-of-care. The company involved in developing the Talis One platform, a compact, sample-to-answer, cloud-enabled, molecular diagnostic platform. Talis Biomedical Corporation is based in MENLO PARK, Calif. “

Several other equities research analysts also recently weighed in on the company. Bank of America downgraded Talis Biomedical from a neutral rating to an underperform rating and set a $3.00 price target on the stock. in a research report on Friday, January 7th. JPMorgan Chase & Co. lowered shares of Talis Biomedical from a neutral rating to an underweight rating and decreased their target price for the stock from $10.00 to $7.00 in a research note on Monday, September 27th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Sell and a consensus target price of $9.25.

NASDAQ:TLIS opened at $3.26 on Tuesday. Talis Biomedical has a 12 month low of $3.11 and a 12 month high of $33.90. The business’s 50-day moving average is $4.34 and its 200 day moving average is $6.99.

Talis Biomedical (NASDAQ:TLIS) last released its earnings results on Monday, November 15th. The company reported ($1.49) EPS for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.09). The business had revenue of $0.22 million for the quarter. Talis Biomedical had a negative net margin of 2,742.84% and a negative return on equity of 103.75%. On average, equities research analysts anticipate that Talis Biomedical will post -9.23 EPS for the current year.

In other Talis Biomedical news, Director Bros. Advisors Lp Baker purchased 50,000 shares of Talis Biomedical stock in a transaction on Thursday, November 18th. The shares were bought at an average price of $4.37 per share, with a total value of $218,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

A number of hedge funds have recently made changes to their positions in TLIS. Morgan Stanley bought a new stake in Talis Biomedical in the 1st quarter valued at about $222,000. Rhumbline Advisers acquired a new stake in shares of Talis Biomedical during the second quarter worth approximately $143,000. BlackRock Inc. lifted its stake in Talis Biomedical by 11.8% in the second quarter. BlackRock Inc. now owns 807,299 shares of the company’s stock valued at $8,903,000 after acquiring an additional 84,892 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Talis Biomedical by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 84,983 shares of the company’s stock valued at $938,000 after acquiring an additional 5,042 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Talis Biomedical by 39.7% in the second quarter. Vanguard Group Inc. now owns 544,906 shares of the company’s stock valued at $6,011,000 after acquiring an additional 154,887 shares during the last quarter. 72.52% of the stock is owned by institutional investors.

About Talis Biomedical

Talis Biomedical Corporation operates as a molecular diagnostic company. It is developing the Talis One system to address limitations of existing point-of-care diagnostic testing technologies for infectious diseases. The company is also developing Talis One assay kits for respiratory infections, infections related to women's health, and sexually transmitted infections; and other tests for the detection of other respiratory infections, such as a respiratory panel test to detect influenza A and influenza B plus SARS-CoV-2.

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