HTG Molecular Diagnostics (HTGM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a hold rating to a sell rating in a report published on Saturday morning, Zacks.com reports.

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. “

Separately, Cantor Fitzgerald set a $6.00 price target on shares of HTG Molecular Diagnostics and gave the stock a buy rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $6.00.

Shares of HTG Molecular Diagnostics stock opened at $2.53 on Friday. HTG Molecular Diagnostics has a 12-month low of $2.03 and a 12-month high of $5.46. The stock has a market capitalization of $66.37 million, a PE ratio of -4.22 and a beta of 1.80. The company has a current ratio of 5.42, a quick ratio of 5.23 and a debt-to-equity ratio of 0.32.

HTG Molecular Diagnostics (NASDAQ:HTGM) last announced its quarterly earnings results on Thursday, May 9th. The medical research company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). HTG Molecular Diagnostics had a negative return on equity of 69.40% and a negative net margin of 80.03%. The firm had revenue of $3.20 million during the quarter, compared to analysts’ expectations of $2.77 million. On average, analysts anticipate that HTG Molecular Diagnostics will post -0.59 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new stake in HTG Molecular Diagnostics in the first quarter valued at approximately $47,000. TD Asset Management Inc. grew its holdings in HTG Molecular Diagnostics by 4.9% in the first quarter. TD Asset Management Inc. now owns 98,164 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 4,600 shares during the period. Cowen Prime Services LLC acquired a new stake in HTG Molecular Diagnostics in the first quarter valued at approximately $50,000. Perkins Capital Management Inc. grew its holdings in HTG Molecular Diagnostics by 37.8% in the first quarter. Perkins Capital Management Inc. now owns 619,920 shares of the medical research company’s stock valued at $1,550,000 after purchasing an additional 169,970 shares during the period. Finally, Geode Capital Management LLC grew its holdings in HTG Molecular Diagnostics by 15.0% in the fourth quarter. Geode Capital Management LLC now owns 217,965 shares of the medical research company’s stock valued at $553,000 after purchasing an additional 28,472 shares during the period. 50.99% of the stock is currently owned by institutional investors and hedge funds.

About HTG Molecular Diagnostics

HTG Molecular Diagnostics, Inc a commercial stage life sciences company, focuses on the precision medicine. The company offers instrumentation (or platforms); consumables comprising assay kits; and software analytics that automate sample processing and profiles various molecular targets. Its platforms generate a molecular profiling library for detection using next-generation sequencing.

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