HTG Molecular Diagnostics, Inc. (HTGM) Rating Increased to Buy at Zacks Investment Research

HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $2.50 target price on the medical research company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.92% from the company’s previous close.

According to Zacks, “HTG Molecular Diagnostics, Inc. is engaged in developing and marketing a technology platform which consists of instrumentation, consumables and software analytics for sample profiling applications including tumor profiling, molecular diagnostic testing and biomarker development. Its products include HTG Edge System, HTG Edge Assays and HTG Assay Direct. HTG Molecular Diagnostics, Inc. is headquartered in Tucson, Arizona. “

Several other research firms have also commented on HTGM. ValuEngine raised shares of HTG Molecular Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of HTG Molecular Diagnostics in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.25.

Shares of HTG Molecular Diagnostics (NASDAQ:HTGM) opened at $2.12 on Wednesday. HTG Molecular Diagnostics has a 52 week low of $1.20 and a 52 week high of $13.25.

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In other news, major shareholder Holdings A/S Novo sold 1,149,813 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $1.81, for a total transaction of $2,081,161.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 1,661,889 shares of company stock valued at $3,077,980 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in HTGM. Granahan Investment Management Inc. MA grew its position in HTG Molecular Diagnostics by 488.3% during the third quarter. Granahan Investment Management Inc. MA now owns 416,608 shares of the medical research company’s stock valued at $708,000 after buying an additional 345,798 shares during the period. Vanguard Group Inc. grew its position in HTG Molecular Diagnostics by 38.9% during the second quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock valued at $359,000 after buying an additional 37,841 shares during the period. Finally, UBS Group AG bought a new stake in HTG Molecular Diagnostics during the first quarter valued at approximately $137,000. Institutional investors own 19.99% of the company’s stock.

HTG Molecular Diagnostics Company Profile

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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