Harvard Bioscience, Inc. (NASDAQ:HBIO – Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.90 and traded as high as $6.56. Harvard Bioscience shares last traded at $6.40, with a volume of 16,760 shares.
Wall Street Analysts Forecast Growth
HBIO has been the topic of a number of analyst reports. Benchmark lowered their target price on shares of Harvard Bioscience from $20.00 to $6.00 and set a “speculative buy” rating on the stock in a report on Friday, March 13th. Wall Street Zen lowered Harvard Bioscience from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. New Street Research set a $6.00 price target on Harvard Bioscience in a research report on Friday, March 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Harvard Bioscience in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.00.
Check Out Our Latest Analysis on HBIO
Harvard Bioscience Price Performance
Insider Buying and Selling at Harvard Bioscience
In other news, Director Stephen J. Denelsky purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were purchased at an average price of $4.87 per share, with a total value of $48,700.00. Following the completion of the acquisition, the director owned 21,000 shares in the company, valued at $102,270. This trade represents a 90.91% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John D. Duke acquired 5,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was acquired at an average price of $5.01 per share, for a total transaction of $25,050.00. Following the transaction, the chief executive officer directly owned 105,000 shares of the company’s stock, valued at $526,050. This represents a 5.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 36,000 shares of company stock valued at $177,354 in the last three months. Company insiders own 20.30% of the company’s stock.
Hedge Funds Weigh In On Harvard Bioscience
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Harvard Bioscience in the 4th quarter worth about $40,000. XTX Topco Ltd purchased a new position in shares of Harvard Bioscience during the fourth quarter worth about $26,000. Corsair Capital Management L.P. grew its holdings in shares of Harvard Bioscience by 1,008.7% during the fourth quarter. Corsair Capital Management L.P. now owns 1,108,692 shares of the medical instruments supplier’s stock worth $741,000 after purchasing an additional 1,008,692 shares in the last quarter. Meros Investment Management LP increased its position in shares of Harvard Bioscience by 32.6% in the fourth quarter. Meros Investment Management LP now owns 1,217,628 shares of the medical instruments supplier’s stock worth $814,000 after purchasing an additional 299,369 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Harvard Bioscience in the fourth quarter worth approximately $124,000. 80.87% of the stock is currently owned by hedge funds and other institutional investors.
Harvard Bioscience Company Profile
Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.
Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.
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