TrovaGene (TROV) Trading Up 9.7%
TrovaGene Inc (NASDAQ:TROV) was up 9.7% during mid-day trading on Thursday . The stock traded as high as $0.35 and last traded at $0.34. Approximately 2,328,500 shares changed hands during trading, an increase of 17% from the average daily volume of 1,992,500 shares. The stock had previously closed at $0.31.
Several equities research analysts recently issued reports on TROV shares. Maxim Group set a $4.00 price objective on shares of TrovaGene and gave the stock a “buy” rating in a research report on Wednesday, October 18th. HC Wainwright started coverage on shares of TrovaGene in a research report on Thursday, December 21st. They set a “buy” rating and a $1.00 price target for the company. Finally, cut shares of TrovaGene from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $3.70.
The stock has a market capitalization of $19.26, a PE ratio of -0.39 and a beta of 0.40.
A hedge fund recently raised its stake in TrovaGene stock. Susquehanna International Group LLP raised its stake in shares of TrovaGene Inc (NASDAQ:TROV) by 2,781.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,031 shares of the medical research company’s stock after acquiring an additional 133,240 shares during the period. Susquehanna International Group LLP owned approximately 0.37% of TrovaGene worth $174,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.73% of the company’s stock.
Trovagene, Inc is a clinical-stage, precision medicine oncology therapeutics company. The Company’s lead drug candidate, PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor. PCM-075 has shown preclinical antitumor activity as a single agent and in synergy combinations with more than ten different chemotherapeutics and targeted therapies, such as Zytiga (abiraterone acetate), Beleodaq (belinostat), Quizartinib (AC220), a development stage FLT3 inhibitor, and Velcade (bortezomib) in Acute Myeloid Leukemia (AML), metastatic Castration-Resistant Prostate Cancer (mCRPC) and other liquid and solid tumor cancers.
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