GenMark Diagnostics, Inc (NASDAQ:GNMK) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,050,000 shares, a decline of 16.7% from the September 30th total of 2,460,000 shares. Approximately 3.8% of the shares of the stock are sold short. Based on an average daily volume of 250,900 shares, the short-interest ratio is presently 8.2 days.
GNMK has been the subject of several recent analyst reports. Raymond James raised their target price on shares of GenMark Diagnostics from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. ValuEngine cut shares of GenMark Diagnostics from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 6th. Zacks Investment Research cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Finally, BidaskClub cut shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Three investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.33.
Shares of GNMK stock traded up $0.07 during trading on Friday, hitting $5.52. 305,800 shares of the company were exchanged, compared to its average volume of 300,899. GenMark Diagnostics has a twelve month low of $3.58 and a twelve month high of $8.37. The business’s 50-day simple moving average is $5.70 and its 200 day simple moving average is $6.33. The firm has a market capitalization of $314.21 million, a price-to-earnings ratio of -6.07 and a beta of 1.17. The company has a debt-to-equity ratio of 6.40, a quick ratio of 2.11 and a current ratio of 2.69.
GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). GenMark Diagnostics had a negative return on equity of 239.16% and a negative net margin of 60.63%. The business had revenue of $20.92 million for the quarter, compared to analyst estimates of $20.66 million. On average, equities analysts forecast that GenMark Diagnostics will post -0.81 earnings per share for the current fiscal year.
In other GenMark Diagnostics news, CEO Hany Massarany sold 16,659 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $6.03, for a total value of $100,453.77. Following the completion of the transaction, the chief executive officer now directly owns 800,212 shares in the company, valued at $4,825,278.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Sarah Hollis Winkler sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $5.62, for a total transaction of $30,910.00. Following the completion of the transaction, the vice president now owns 56,292 shares of the company’s stock, valued at $316,361.04. The disclosure for this sale can be found here. Insiders sold a total of 47,965 shares of company stock worth $288,604 in the last ninety days. Corporate insiders own 5.24% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GNMK. Morgan Stanley boosted its stake in GenMark Diagnostics by 434.0% during the second quarter. Morgan Stanley now owns 1,824,449 shares of the medical equipment provider’s stock worth $11,841,000 after buying an additional 1,482,787 shares in the last quarter. Cadian Capital Management LP boosted its stake in GenMark Diagnostics by 9.5% during the second quarter. Cadian Capital Management LP now owns 5,640,748 shares of the medical equipment provider’s stock worth $36,608,000 after buying an additional 488,739 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in GenMark Diagnostics during the second quarter worth $2,700,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of GenMark Diagnostics in the 3rd quarter valued at $2,165,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of GenMark Diagnostics in the 3rd quarter valued at $1,737,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.
GenMark Diagnostics Company Profile
GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.
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