HTG Molecular Diagnostics, Inc. (HTGM) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) from a hold rating to a sell rating in a research note published on Tuesday.

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. “

Several other analysts have also recently issued reports on HTGM. Canaccord Genuity upped their target price on shares of HTG Molecular Diagnostics from $5.50 to $6.50 and gave the company a hold rating in a research report on Wednesday, April 19th. Rodman & Renshaw upped their target price on shares of HTG Molecular Diagnostics from $4.50 to $6.00 and gave the company a buy rating in a research report on Tuesday, May 16th. HC Wainwright restated a buy rating and set a $6.00 target price on shares of HTG Molecular Diagnostics in a research report on Thursday, June 29th. Finally, ValuEngine lowered shares of HTG Molecular Diagnostics from a sell rating to a strong sell rating in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. HTG Molecular Diagnostics has an average rating of Hold and a consensus price target of $5.75.

Shares of HTG Molecular Diagnostics (HTGM) opened at 2.09 on Tuesday. The company has a 50 day moving average price of $2.34 and a 200-day moving average price of $3.37. HTG Molecular Diagnostics has a 12 month low of $1.20 and a 12 month high of $13.25. The stock’s market cap is $23.93 million.

HTG Molecular Diagnostics (NASDAQ:HTGM) last announced its earnings results on Tuesday, August 8th. The medical research company reported ($0.60) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.60). The firm had revenue of $1.76 million for the quarter, compared to analysts’ expectations of $1.80 million. HTG Molecular Diagnostics had a negative net margin of 432.74% and a negative return on equity of 1,538.49%. On average, equities research analysts predict that HTG Molecular Diagnostics will post ($2.28) earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the company. UBS Group AG purchased a new stake in HTG Molecular Diagnostics during the first quarter worth $137,000. Two Sigma Securities LLC purchased a new stake in HTG Molecular Diagnostics during the first quarter worth $150,000. Granahan Investment Management Inc. MA purchased a new stake in HTG Molecular Diagnostics during the first quarter worth $228,000. Renaissance Technologies LLC raised its stake in HTG Molecular Diagnostics by 32.3% in the fourth quarter. Renaissance Technologies LLC now owns 58,200 shares of the medical research company’s stock worth $130,000 after buying an additional 14,206 shares during the period. Finally, Vanguard Group Inc. raised its stake in HTG Molecular Diagnostics by 38.9% in the second quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock worth $359,000 after buying an additional 37,841 shares during the period. 26.26% of the stock is currently owned by institutional investors.

HTG Molecular Diagnostics Company Profile

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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