Biomerica (NASDAQ:BMRA) Vice Chairman Allen Barbieri Purchases 20,000 Shares of Stock

Biomerica, Inc. (NASDAQ:BMRA) Vice Chairman Allen Barbieri bought 20,000 shares of Biomerica stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average price of $1.60 per share, with a total value of $32,000.00. Following the completion of the transaction, the insider directly owned 73,542 shares of the company’s stock, valued at approximately $117,667.20. The trade was a 37.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Biomerica Price Performance

Biomerica stock traded up $0.41 during trading on Thursday, reaching $2.10. 3,239,684 shares of the company were exchanged, compared to its average volume of 36,798. Biomerica, Inc. has a 52-week low of $1.45 and a 52-week high of $3.24. The company has a market capitalization of $6.49 million, a P/E ratio of -2.36 and a beta of 0.35. The stock’s 50 day simple moving average is $1.65 and its two-hundred day simple moving average is $1.99.

Institutional Trading of Biomerica

An institutional investor recently bought a new stake in Biomerica stock. BlackRock Inc. purchased a new position in shares of Biomerica, Inc. (NASDAQ:BMRA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica as of its most recent SEC filing. Institutional investors and hedge funds own 22.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BMRA. Weiss Ratings downgraded shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Citizens Jmp began coverage on shares of Biomerica in a research report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price objective for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of $9.00.

Biomerica Company Profile

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.