Shares of TrovaGene Inc (NASDAQ:TROV) shot up 9.7% during mid-day trading on Thursday . The stock traded as high as $0.35 and last traded at $0.34. 2,328,500 shares were traded during trading, an increase of 17% from the average session volume of 1,992,500 shares. The stock had previously closed at $0.31.
Several brokerages have issued reports on TROV. Maxim Group downgraded shares of TrovaGene from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. HC Wainwright began coverage on shares of TrovaGene in a research note on Thursday, December 21st. They set a “buy” rating and a $1.00 target price on the stock. Finally, downgraded shares of TrovaGene from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. TrovaGene has a consensus rating of “Hold” and an average target price of $3.70.
The stock has a market capitalization of $18.95, a P/E ratio of -0.37 and a beta of 0.40.
An institutional investor recently raised its position in TrovaGene stock. Susquehanna International Group LLP lifted its stake in TrovaGene Inc (NASDAQ:TROV) by 254.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 488,937 shares of the medical research company’s stock after acquiring an additional 350,906 shares during the quarter. Susquehanna International Group LLP owned approximately 1.28% of TrovaGene worth $357,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 13.73% of the company’s stock.
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TrovaGene Company Profile
Trovagene, Inc is a clinical-stage, precision medicine oncology therapeutics company. The Company’s lead drug candidate, PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor. PCM-075 has shown preclinical antitumor activity as a single agent and in synergy combinations with more than ten different chemotherapeutics and targeted therapies, such as Zytiga (abiraterone acetate), Beleodaq (belinostat), Quizartinib (AC220), a development stage FLT3 inhibitor, and Velcade (bortezomib) in Acute Myeloid Leukemia (AML), metastatic Castration-Resistant Prostate Cancer (mCRPC) and other liquid and solid tumor cancers.
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