Singular Research Initiates Coverage on Harvard Bioscience Inc. (HBIO)
Equities researchers at Singular Research initiated coverage on shares of Harvard Bioscience Inc. (NASDAQ:HBIO) in a research note issued on Thursday. The firm set a “buy” rating and a $5.50 price target on the stock. Singular Research’s target price suggests a potential upside of 111.54% from the company’s previous close.
Separately, Zacks Investment Research raised Harvard Bioscience from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd.
Shares of Harvard Bioscience (NASDAQ:HBIO) opened at 2.60 on Thursday. The company’s 50-day moving average price is $2.53 and its 200 day moving average price is $2.87. The company’s market cap is $89.37 million. Harvard Bioscience has a 12-month low of $2.25 and a 12-month high of $3.90.
In other news, CFO Robert E. Gagnon bought 25,000 shares of Harvard Bioscience stock in a transaction dated Thursday, November 3rd. The stock was bought at an average cost of $2.34 per share, for a total transaction of $58,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeffrey Duchemin bought 15,000 shares of Harvard Bioscience stock in a transaction dated Thursday, November 3rd. The stock was purchased at an average price of $2.42 per share, with a total value of $36,300.00. The disclosure for this purchase can be found here. 8.80% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of HBIO. Spark Investment Management LLC increased its stake in shares of Harvard Bioscience by 89.2% in the second quarter. Spark Investment Management LLC now owns 35,000 shares of the company’s stock valued at $100,000 after buying an additional 16,500 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Harvard Bioscience by 57.1% in the third quarter. Panagora Asset Management Inc. now owns 44,521 shares of the company’s stock valued at $121,000 after buying an additional 16,174 shares in the last quarter. First Manhattan Co. purchased a new stake in shares of Harvard Bioscience during the second quarter valued at approximately $125,000. Algert Global LLC purchased a new stake in shares of Harvard Bioscience during the third quarter valued at approximately $132,000. Finally, Northern Trust Corp increased its stake in shares of Harvard Bioscience by 0.7% in the third quarter. Northern Trust Corp now owns 75,852 shares of the company’s stock valued at $206,000 after buying an additional 495 shares in the last quarter. Institutional investors own 66.58% of the company’s stock.
About Harvard Bioscience
Harvard Bioscience, Inc is a developer, manufacturer and marketer of a range of scientific instruments, systems and lab consumables used for basic research, drug discovery, clinical and environmental testing. The Company’s products are sold to thousands of researchers in over 100 countries through its global sales organization, Websites, catalogs and through distributors.
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