GenMark Diagnostics, Inc. (GNMK) Trading 8.2% Higher
GenMark Diagnostics, Inc. (NASDAQ:GNMK) traded up 8.2% during trading on Monday . The stock traded as high as $9.78 and last traded at $9.65. 1,057,095 shares changed hands during mid-day trading, an increase of 151% from the average session volume of 421,875 shares. The stock had previously closed at $8.92.
Several equities research analysts have commented on the company. Bank of America Corporation assumed coverage on GenMark Diagnostics in a report on Monday. They issued a “buy” rating and a $13.00 target price on the stock. BTIG Research reissued a “buy” rating and issued a $13.00 target price on shares of GenMark Diagnostics in a report on Thursday, August 31st. Needham & Company LLC boosted their target price on GenMark Diagnostics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and issued a $17.00 target price on shares of GenMark Diagnostics in a report on Monday, June 12th. Finally, Cowen and Company reissued an “outperform” rating and issued a $17.00 target price on shares of GenMark Diagnostics in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. GenMark Diagnostics has an average rating of “Buy” and a consensus target price of $14.33.
The stock’s 50-day moving average price is $9.94 and its 200 day moving average price is $11.89. The firm’s market cap is $527.54 million.
GenMark Diagnostics (NASDAQ:GNMK) last posted its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.05). The business had revenue of $12.36 million during the quarter, compared to analyst estimates of $12.44 million. GenMark Diagnostics had a negative return on equity of 109.89% and a negative net margin of 111.96%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) EPS. On average, analysts predict that GenMark Diagnostics, Inc. will post ($1.06) EPS for the current year.
In other news, SVP Jennifer Anne Williams sold 38,681 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $9.08, for a total value of $351,223.48. Following the completion of the sale, the senior vice president now owns 155,889 shares of the company’s stock, valued at approximately $1,415,472.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hany Massarany sold 8,311 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $9.45, for a total value of $78,538.95. Following the completion of the sale, the insider now directly owns 372,797 shares of the company’s stock, valued at approximately $3,522,931.65. The disclosure for this sale can be found here. Insiders sold a total of 55,986 shares of company stock valued at $517,941 in the last three months. Insiders own 7.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlueCrest Capital Management Ltd acquired a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $126,000. Legal & General Group Plc boosted its position in shares of GenMark Diagnostics by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 11,521 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 240 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of GenMark Diagnostics in the 2nd quarter worth $137,000. Airain ltd acquired a new stake in shares of GenMark Diagnostics in the 1st quarter worth $159,000. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of GenMark Diagnostics by 18.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 13,147 shares of the medical equipment provider’s stock worth $159,000 after purchasing an additional 2,047 shares in the last quarter.
About GenMark Diagnostics
GenMark Diagnostics, Inc is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. It develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology.
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