Avinger Inc (NASDAQ:AVGR) shares traded up 5% during trading on Thursday . The stock traded as high as $0.24 and last traded at $0.21. 6,537,998 shares changed hands during mid-day trading, an increase of 261% from the average session volume of 1,812,917 shares. The stock had previously closed at $0.20.
Separately, Zacks Investment Research lowered shares of Avinger from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Avinger has an average rating of “Hold” and an average target price of $3.42.
The stock has a market cap of $6.50 and a P/E ratio of -0.09.
In related news, Chairman John B. Ph D. Md Simpson sold 454,584 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $0.27, for a total value of $122,737.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John B. Ph D. Md Simpson sold 1,074,130 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $0.25, for a total transaction of $268,532.50. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.
A hedge fund recently bought a new stake in Avinger stock. AWM Investment Company Inc. acquired a new stake in shares of Avinger Inc (NASDAQ:AVGR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,150,000 shares of the medical device company’s stock, valued at approximately $516,000. AWM Investment Company Inc. owned about 4.81% of Avinger as of its most recent filing with the SEC. 3.76% of the stock is currently owned by institutional investors and hedge funds.
Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.
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