Biomerica, Inc. (NASDAQ:BMRA – Get Free Report) Director M. Huff Gary bought 31,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were purchased at an average cost of $1.60 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the director owned 51,250 shares of the company’s stock, valued at $82,000. This represents a 156.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Biomerica Stock Up 24.3%
Biomerica stock traded up $0.41 during trading hours on Thursday, hitting $2.10. The stock had a trading volume of 3,239,684 shares, compared to its average volume of 36,798. The company has a 50-day moving average of $1.65 and a two-hundred day moving average of $1.99. Biomerica, Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $3.24. The company has a market cap of $6.49 million, a PE ratio of -2.36 and a beta of 0.35.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Citizens Jmp started coverage on Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price for the company. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell” and an average price target of $9.00.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in Biomerica stock. BlackRock Inc. acquired a new stake in shares of Biomerica, Inc. (NASDAQ:BMRA – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica at the end of the most recent quarter. 22.28% of the stock is owned by institutional investors.
About Biomerica
Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.
Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.
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