Signal Genetics, Inc. (MGEN) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Signal Genetics, Inc. (NASDAQ:MGEN) from a buy rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Miragen Therapeutics, Inc. is a biopharmaceutical company. It develops microRNA biology, oligonucleotide chemistry, drugs and therapies for cancer, pathologic fibrosis, neuro-inflammatory and cardiovascular diseases. Miragen Therapeutics, Inc., formerly known as Signal Genetics, is headquartered in Boulder, Colorado. “
A number of other equities analysts also recently commented on MGEN. ValuEngine upgraded Signal Genetics from a sell rating to a hold rating in a research note on Tuesday, June 27th. Chardan Capital reiterated a buy rating and issued a $26.00 price target on shares of Signal Genetics in a research note on Tuesday, July 25th. Finally, Wedbush reiterated a buy rating on shares of Signal Genetics in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Signal Genetics currently has a consensus rating of Hold and an average target price of $18.67.
Signal Genetics (MGEN) traded up 2.92% on Tuesday, hitting $8.29. The stock had a trading volume of 91,959 shares. The company’s 50-day moving average is $9.15 and its 200-day moving average is $10.96. Signal Genetics has a one year low of $0.12 and a one year high of $18.00. The stock’s market cap is $178.09 million.
Signal Genetics (NASDAQ:MGEN) last posted its quarterly earnings results on Friday, August 11th. The medical research company reported ($0.34) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.13. The business had revenue of $0.72 million during the quarter, compared to the consensus estimate of $0.46 million. Signal Genetics had a negative return on equity of 92.62% and a negative net margin of 770.31%. On average, analysts anticipate that Signal Genetics will post ($1.52) earnings per share for the current fiscal year.
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A number of large investors have recently bought and sold shares of MGEN. HighTower Advisors LLC acquired a new position in Signal Genetics in the first quarter worth about $471,000. Goldman Sachs Group Inc. acquired a new position in Signal Genetics in the first quarter worth about $807,000. Finally, FMR LLC acquired a new position in Signal Genetics in the first quarter worth about $38,874,000. Institutional investors and hedge funds own 20.66% of the company’s stock.
About Signal Genetics
Signal Genetics, Inc is a commercial stage, molecular genetic diagnostic company. The Company is focused on providing diagnostic services that help physicians to make decisions concerning the care of cancer patients. The Company’s diagnostic service is the Myeloma Prognostic Risk Signature (MyPRS) test.
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