Biomerica (NASDAQ:BMRA) Director Acquires 10,000 Shares

Biomerica, Inc. (NASDAQ:BMRA) Director David Moatazedi acquired 10,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average cost of $1.60 per share, with a total value of $16,000.00. Following the completion of the acquisition, the director owned 40,625 shares of the company’s stock, valued at approximately $65,000. This trade represents a 32.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Biomerica Stock Performance

Shares of NASDAQ BMRA traded up $0.41 during mid-day trading on Thursday, hitting $2.10. 3,239,684 shares of the stock were exchanged, compared to its average volume of 36,798. Biomerica, Inc. has a twelve month low of $1.45 and a twelve month high of $3.24. The stock’s fifty day simple moving average is $1.65 and its two-hundred day simple moving average is $1.99. The company has a market cap of $6.49 million, a P/E ratio of -2.36 and a beta of 0.35.

Analyst Ratings Changes

BMRA has been the subject of several analyst reports. Weiss Ratings cut shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Citizens Jmp initiated coverage on shares of Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price objective on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and a consensus target price of $9.00.

Institutional Investors Weigh In On Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC raised its position in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the period. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 22.28% of the company’s stock.

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.