Medgenics (GNMX) Trading Up 11.1%

Medgenics Inc (NASDAQ:GNMX)’s share price was up 11.1% during mid-day trading on Friday . The stock traded as high as $1.60 and last traded at $1.50. Approximately 633,054 shares changed hands during mid-day trading, an increase of 253% from the average daily volume of 179,477 shares. The stock had previously closed at $1.35.

Separately, Jefferies Group reiterated a “hold” rating and issued a $1.50 price target on shares of Medgenics in a research note on Thursday, September 28th.

Medgenics (NASDAQ:GNMX) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. During the same period last year, the company posted ($0.29) EPS. analysts forecast that Medgenics Inc will post -0.88 earnings per share for the current year.

A hedge fund recently raised its stake in Medgenics stock. Wells Fargo & Company MN lifted its position in shares of Medgenics Inc (NASDAQ:GNMX) by 433.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,662 shares of the biotechnology company’s stock after acquiring an additional 106,178 shares during the quarter. Wells Fargo & Company MN owned approximately 0.35% of Medgenics worth $165,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 16.80% of the company’s stock.

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About Medgenics

Aevi Genomic Medicine, Inc, a clinical stage biopharmaceutical company, researches and develops novel therapies for pediatric onset and life-altering diseases in the United States. Its lead product candidates include AEVI-001, a glutamatergic neuromodulator, which is in Phase II/III SAGA trial for a genetically-defined subset of adolescent attention deficit hyperactivity disorder patients with specific mutations in their metabotropic glutamate receptor gene network; and AEVI-002, an anti-light monoclonal antibody that is in Phase I clinical trial for use in severe pediatric onset crohn?s disease.

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