Biomerica (NASDAQ:BMRA) CEO Zackary Irani Purchases 31,250 Shares of Stock

Biomerica, Inc. (NASDAQ:BMRA) CEO Zackary Irani purchased 31,250 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were purchased at an average cost of $1.60 per share, with a total value of $50,000.00. Following the completion of the purchase, the chief executive officer owned 242,570 shares in the company, valued at $388,112. This represents a 14.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Biomerica Price Performance

Shares of BMRA traded up $0.41 during midday trading on Thursday, reaching $2.10. The stock had a trading volume of 3,239,684 shares, compared to its average volume of 36,798. Biomerica, Inc. has a 52 week low of $1.45 and a 52 week high of $3.24. The firm’s 50 day moving average price is $1.65 and its 200-day moving average price is $1.99. The company has a market capitalization of $6.49 million, a P/E ratio of -2.36 and a beta of 0.35.

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC lifted its position in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the quarter. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 as of its most recent filing with the SEC. 22.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BMRA shares. Citizens Jmp assumed coverage on shares of Biomerica in a research report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price objective for the company. Weiss Ratings cut Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell” and a consensus target price of $9.00.

About Biomerica

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.