CombiMatrix Corporation (NASDAQ:CBMX) Stake Owned by Stonepine Capital Management, LLC

Stonepine Capital Management, LLC

revealed that they own 10% of CombiMatrix Corporation (NASDAQ:CBMX) in a Form 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, August 9th. The investor owns 290,010 shares of the stock worth about $2,146,074. The reporting parties listed on the disclosure included Stonepine Capital Management, LLC, Stonepine Capital, LP, Jon M Plexico and Timothy P Lynch. The filing is available through the SEC website at this link.

Stonepine Capital Management, LLC

provided the following explanation of their ownership:

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Separately, Essex Investment Management Co. LLC increased its position in shares of CombiMatrix Corporation by 94.4% in the second quarter. Essex Investment Management Co. LLC now owns 25,878 shares of the medical research company’s stock valued at $138,000 after buying an additional 12,564 shares during the period. Institutional investors own 11.47% of the company’s stock.

CombiMatrix Corporation (CBMX) traded up 0.68% during midday trading on Friday, reaching $7.40. The company’s stock had a trading volume of 40,871 shares. CombiMatrix Corporation has a 1-year low of $2.15 and a 1-year high of $7.90. The stock’s 50-day moving average price is $6.16 and its 200 day moving average price is $5.22. The firm’s market capitalization is $21.59 million.

CombiMatrix Corporation (NASDAQ:CBMX) last issued its earnings results on Thursday, August 3rd. The medical research company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.11. CombiMatrix Corporation had a negative net margin of 15.53% and a negative return on equity of 36.07%. The company had revenue of $4.24 million during the quarter, compared to analyst estimates of $3.89 million. Equities analysts anticipate that CombiMatrix Corporation will post ($0.52) EPS for the current fiscal year.

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CBMX has been the topic of several research analyst reports. Aegis initiated coverage on CombiMatrix Corporation in a research report on Thursday, July 13th. They set a “buy” rating and a $8.10 price target on the stock. Ladenburg Thalmann Financial Services cut CombiMatrix Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, August 4th.

About CombiMatrix Corporation

CombiMatrix Corporation is a provider of molecular diagnostic solutions. The Company specializes in pre-implantation genetic screening, miscarriage analysis, prenatal diagnosis and pediatric developmental disorders, offering deoxyribonucleic acid-based testing for the detection of genetic abnormalities, which cannot be identified through traditional methodologies.

Institutional Ownership by Quarter for CombiMatrix Corporation (NASDAQ:CBMX)

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