Enzo Biochem Inc. (ENZ) Trading 9.5% Higher on Earnings Beat
Enzo Biochem Inc. (NYSE:ENZ) traded up 9.5% during trading on Friday following a stronger than expected earnings report. The company traded as high as $5.70 and last traded at $5.55, with a volume of 411,025 shares traded. The stock had previously closed at $5.07.
The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company earned $26.60 million during the quarter. Enzo Biochem had a negative return on equity of 20.77% and a net margin of 17.27%. During the same quarter in the previous year, the company posted ($0.06) earnings per share.
Separately, Zacks Investment Research lowered Enzo Biochem from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENZ. Wellington Management Group LLP raised its position in Enzo Biochem by 2.9% in the first quarter. Wellington Management Group LLP now owns 4,337,412 shares of the company’s stock valued at $19,735,000 after buying an additional 121,500 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Enzo Biochem by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,813,930 shares of the company’s stock valued at $10,829,000 after buying an additional 133,285 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Enzo Biochem by 24.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,628,583 shares of the company’s stock valued at $9,723,000 after buying an additional 315,111 shares in the last quarter. Vanguard Group Inc. raised its position in Enzo Biochem by 11.9% in the second quarter. Vanguard Group Inc. now owns 1,494,933 shares of the company’s stock valued at $8,925,000 after buying an additional 159,423 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Enzo Biochem by 1,067.3% in the second quarter. BlackRock Fund Advisors now owns 1,030,773 shares of the company’s stock valued at $6,154,000 after buying an additional 942,472 shares in the last quarter. Institutional investors and hedge funds own 53.29% of the company’s stock.
The company has a 50-day moving average of $5.34 and a 200-day moving average of $5.68. The stock has a market capitalization of $258.40 million, a price-to-earnings ratio of 14.6215 and a beta of 1.50.
Enzo Biochem Company Profile
Enzo Biochem, Inc (Enzo) is an integrated life science and biotechnology company, which is engaged in the research, development, manufacturing and marketing of diagnostic and research products based on genetic engineering, biotechnology and molecular biology. These products are designed for the diagnosis of and/or screening for infectious diseases, cancers, genetic defects and other medically pertinent diagnostic information and are distributed in the United States and internationally.
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