Shares of Sequenom Inc. (NASDAQ:SQNM) have earned a consensus rating of “Hold” from the six research firms that are covering the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $1.34.
A number of equities research analysts have recently issued reports on SQNM shares. William Blair restated a “market perform” rating on shares of Sequenom in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Sequenom from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a report on Friday, July 22nd. Finally, Jefferies Group restated a “hold” rating and set a $0.75 price target (down previously from $1.50) on shares of Sequenom in a report on Wednesday, July 20th.
In related news, major shareholder Corp Of America Hol Laboratory acquired 36,649,440 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were purchased at an average price of $2.40 per share, for a total transaction of $87,958,656.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. bought a new position in Sequenom during the second quarter valued at $1,181,000. Bridgeway Capital Management Inc. acquired a new position in shares of Sequenom during the second quarter valued at approximately $555,000. Paloma Partners Management Co raised its position in shares of Sequenom by 1,125.2% in the second quarter. Paloma Partners Management Co now owns 441,353 shares of the company’s stock valued at $403,000 after buying an additional 405,330 shares during the period. Palo Alto Investors LLC raised its position in shares of Sequenom by 3.0% in the second quarter. Palo Alto Investors LLC now owns 10,322,377 shares of the company’s stock valued at $9,432,000 after buying an additional 298,535 shares during the period. Finally, Laurion Capital Management LP acquired a new position in shares of Sequenom during the second quarter valued at approximately $259,000. Hedge funds and other institutional investors own 46.03% of the company’s stock.
Sequenom (NASDAQ:SQNM) opened at 2.39 on Wednesday. Sequenom has a 12-month low of $0.82 and a 12-month high of $2.53. The company’s 50 day moving average is $2.16 and its 200 day moving average is $1.47.
Sequenom (NASDAQ:SQNM) last released its quarterly earnings results on Friday, August 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.04. Equities research analysts forecast that Sequenom will post ($0.30) earnings per share for the current year.
Sequenom, Inc is a life sciences company. The Company serves patients and physicians by providing early patient management information. The Company operates through Sequenom Laboratories segment. It conducts its business as a molecular diagnostics clinical laboratory located in San Diego, California and Raleigh-Durham, North Carolina.
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