Zacks Investment Research cut shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a buy rating to a hold rating in a research report released on Thursday.
According to Zacks, “HTG Molecular Diagnostics, Inc. is engaged in developing and marketing a technology platform which consists of instrumentation, consumables and software analytics for sample profiling applications including tumor profiling, molecular diagnostic testing and biomarker development. Its products include HTG Edge System, HTG Edge Assays and HTG Assay Direct. HTG Molecular Diagnostics, Inc. is headquartered in Tucson, Arizona. “
A number of other research analysts have also weighed in on HTGM. Canaccord Genuity upped their price objective on HTG Molecular Diagnostics to $5.00 in a report on Friday, January 5th. HC Wainwright set a $6.00 price objective on HTG Molecular Diagnostics and gave the stock a buy rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. HTG Molecular Diagnostics currently has a consensus rating of Hold and a consensus price target of $6.56.
HTG Molecular Diagnostics (NASDAQ:HTGM) last announced its quarterly earnings data on Thursday, March 22nd. The medical research company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.15. The business had revenue of $7.90 million for the quarter, compared to analyst estimates of $7.05 million. sell-side analysts anticipate that HTG Molecular Diagnostics will post -0.6 EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in HTG Molecular Diagnostics by 38.9% during the second quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock worth $359,000 after acquiring an additional 37,841 shares during the period. Granahan Investment Management Inc. MA boosted its position in HTG Molecular Diagnostics by 488.3% during the third quarter. Granahan Investment Management Inc. MA now owns 416,608 shares of the medical research company’s stock worth $708,000 after purchasing an additional 345,798 shares in the last quarter. Finally, Private Wealth Partners LLC purchased a new stake in HTG Molecular Diagnostics during the fourth quarter worth $710,000. 7.91% of the stock is currently owned by hedge funds and other institutional investors.
About HTG Molecular Diagnostics
HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.
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