TrovaGene (TROV) Shares Gap Up to $0.25

TrovaGene Inc (NASDAQ:TROV) gapped up prior to trading on Monday . The stock had previously closed at $0.24, but opened at $0.25. TrovaGene shares last traded at $0.26, with a volume of 2656609 shares changing hands.

TROV has been the topic of a number of research reports. Maxim Group set a $4.00 price objective on TrovaGene and gave the company a “buy” rating in a research note on Wednesday, October 18th. cut TrovaGene from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th.

TrovaGene (NASDAQ:TROV) last announced its quarterly earnings data on Thursday, November 9th. The medical research company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. TrovaGene had a negative return on equity of 259.94% and a negative net margin of 7,960.05%. The business had revenue of $0.12 million for the quarter.

Several institutional investors and hedge funds have recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in TrovaGene in the second quarter worth approximately $151,000. Susquehanna International Group LLP raised its position in shares of TrovaGene by 2,781.0% in the 2nd quarter. Susquehanna International Group LLP now owns 138,031 shares of the medical research company’s stock worth $174,000 after acquiring an additional 133,240 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of TrovaGene by 1,079.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 278,186 shares of the medical research company’s stock worth $351,000 after acquiring an additional 254,601 shares in the last quarter. Hedge funds and other institutional investors own 13.73% of the company’s stock.

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TrovaGene Company Profile

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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