Biomerica (NASDAQ:BMRA) Director Purchases $16,000.00 in Stock

Biomerica, Inc. (NASDAQ:BMRA – Get Free Report) Director David Moatazedi purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $1.60 per share, with a total value of $16,000.00. Following the acquisition, the director directly owned 40,625 shares in the company, valued at approximately $65,000. This represents a 32.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Biomerica Trading Up 1.9%

BMRA stock opened at $2.14 on Friday. The company has a market cap of $6.61 million, a P/E ratio of -2.40 and a beta of 0.35. Biomerica, Inc. has a 52 week low of $1.45 and a 52 week high of $3.22. The company’s 50-day moving average price is $1.67 and its 200 day moving average price is $1.99.

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Institutional Investors Weigh In On Biomerica

A hedge fund recently bought a new position in Biomerica stock. BlackRock Inc. bought a new stake in shares of Biomerica, Inc. (NASDAQ:BMRA – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BMRA shares. Weiss Ratings lowered Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Citizens Jmp started coverage on Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus price target of $9.00.

View Our Latest Report on BMRA

About Biomerica

(Get Free Report)

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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