Avinger, Inc. (NASDAQ:AVGR) shares shot up 13.4% during trading on Wednesday . The company traded as high as $0.35 and last traded at $0.34. 2,894,386 shares changed hands during trading, a decline of 27% from the average session volume of 3,965,060 shares. The stock had previously closed at $0.30.

Separately, Zacks Investment Research cut Avinger from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $5.00.

The stock has a 50 day moving average price of $0.29 and a 200 day moving average price of $0.29. The company’s market cap is $8.07 million.

Large investors have recently added to or reduced their stakes in the business. Blair William & Co. IL grew its holdings in Avinger by 5.0% during the first quarter. Blair William & Co. IL now owns 73,900 shares of the medical device company’s stock valued at $188,000 after purchasing an additional 3,500 shares during the period. AWM Investment Company Inc. bought a new stake in Avinger during the second quarter valued at about $516,000. Broadfin Capital LLC bought a new stake in Avinger during the first quarter valued at about $950,000. Finally, RMB Capital Management LLC grew its holdings in Avinger by 198.7% during the first quarter. RMB Capital Management LLC now owns 906,552 shares of the medical device company’s stock valued at $1,722,000 after purchasing an additional 603,100 shares during the period. 15.37% of the stock is owned by institutional investors and hedge funds.

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Avinger Company Profile

Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.

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