HTG Molecular Diagnostics, Inc. (HTGM) Receives Buy Rating from HC Wainwright

HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Tuesday. They presently have a $6.00 price objective on the medical research company’s stock. HC Wainwright’s target price would suggest a potential upside of 215.79% from the stock’s previous close.

Several other brokerages have also weighed in on HTGM. Zacks Investment Research lowered HTG Molecular Diagnostics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine lowered HTG Molecular Diagnostics from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Rodman & Renshaw increased their target price on HTG Molecular Diagnostics from $4.50 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $5.75.

HTG Molecular Diagnostics (HTGM) traded up 5.26% during midday trading on Tuesday, reaching $2.00. The company’s stock had a trading volume of 1,121,381 shares. HTG Molecular Diagnostics has a 1-year low of $1.20 and a 1-year high of $13.25. The firm’s market cap is $22.90 million. The company has a 50 day moving average price of $2.11 and a 200 day moving average price of $3.38.

HTG Molecular Diagnostics (NASDAQ:HTGM) last issued its quarterly earnings results on Tuesday, August 8th. The medical research company reported ($0.60) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.60). HTG Molecular Diagnostics had a negative return on equity of 1,538.49% and a negative net margin of 432.74%. The company had revenue of $1.76 million for the quarter, compared to analyst estimates of $1.80 million. On average, equities research analysts expect that HTG Molecular Diagnostics will post ($2.29) EPS for the current year.

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In related news, major shareholder Holdings A/S Novo sold 1,149,813 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $1.81, for a total value of $2,081,161.53. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 1,659,998 shares of company stock worth $3,073,696 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Group AG acquired a new stake in HTG Molecular Diagnostics in the 1st quarter valued at $137,000. Two Sigma Securities LLC acquired a new stake in HTG Molecular Diagnostics in the 1st quarter valued at $150,000. Granahan Investment Management Inc. MA acquired a new stake in HTG Molecular Diagnostics in the 1st quarter valued at $228,000. Finally, Vanguard Group Inc. increased its holdings in HTG Molecular Diagnostics by 38.9% in the 2nd quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock valued at $359,000 after purchasing an additional 37,841 shares in the last quarter. Hedge funds and other institutional investors own 21.67% of the company’s stock.

About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc is a commercial-stage company that develops and markets a technology platform to facilitate the routine use of complex molecular profiling. The Company’s HTG Edge and HTG EdgeSeq platforms, consisting of instrumentation, consumables and software analytics, are used in sample profiling applications, including tumor profiling, molecular diagnostic testing and biomarker development.

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