GenMark Diagnostics Inc. (GNMK) Director Michael Kagnoff Purchases 2,000 Shares of Stock
GenMark Diagnostics Inc. (NASDAQ:GNMK) Director Michael Kagnoff purchased 2,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was purchased at an average price of $11.80 per share, for a total transaction of $23,600.00. Following the acquisition, the director now owns 35,048 shares of the company’s stock, valued at approximately $413,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Michael Kagnoff also recently made the following trade(s):
- On Monday, November 14th, Michael Kagnoff purchased 2,000 shares of GenMark Diagnostics stock. The stock was purchased at an average price of $12.50 per share, for a total transaction of $25,000.00.
Shares of GenMark Diagnostics Inc. (NASDAQ:GNMK) traded up 0.77% during mid-day trading on Wednesday, hitting $11.75. The company had a trading volume of 85,379 shares. The firm’s market capitalization is $545.25 million. GenMark Diagnostics Inc. has a 52 week low of $4.20 and a 52 week high of $13.29. The firm has a 50-day moving average price of $11.96 and a 200-day moving average price of $9.71.
GenMark Diagnostics (NASDAQ:GNMK) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.04. GenMark Diagnostics had a negative return on equity of 114.35% and a negative net margin of 98.17%. The company had revenue of $10.80 million for the quarter, compared to the consensus estimate of $10.36 million. During the same quarter in the previous year, the business earned ($0.27) EPS. GenMark Diagnostics’s revenue was up 27.1% compared to the same quarter last year. Equities analysts forecast that GenMark Diagnostics Inc. will post ($1.13) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. increased its position in GenMark Diagnostics by 15.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,575,036 shares of the company’s stock worth $13,570,000 after buying an additional 350,000 shares during the period. Artemis Investment Management LLP increased its position in GenMark Diagnostics by 100.0% in the second quarter. Artemis Investment Management LLP now owns 216,928 shares of the company’s stock worth $1,885,000 after buying an additional 108,464 shares during the period. Northpointe Capital LLC increased its position in GenMark Diagnostics by 50.9% in the second quarter. Northpointe Capital LLC now owns 1,512,734 shares of the company’s stock worth $13,161,000 after buying an additional 510,472 shares during the period. Bank of New York Mellon Corp increased its position in GenMark Diagnostics by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 185,657 shares of the company’s stock worth $1,614,000 after buying an additional 3,999 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in GenMark Diagnostics by 4.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,007 shares of the company’s stock worth $148,000 after buying an additional 799 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded GenMark Diagnostics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, August 2nd. JPMorgan Chase & Co. raised their target price on GenMark Diagnostics from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Friday, July 29th. Canaccord Genuity restated a “buy” rating and issued a $13.00 target price on shares of GenMark Diagnostics in a report on Friday, July 29th. Finally, Cowen and Company upgraded GenMark Diagnostics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a report on Friday, September 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $11.89.
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About GenMark Diagnostics
GenMark Diagnostics, Inc (GenMark) is a molecular diagnostics company. The Company focuses on developing and commercializing its eSensor detection technology. Its eSensor electrochemical technology detects multiple distinct biomarkers in a single sample. It sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States.
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