HTG Molecular Diagnostics (HTGM) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a buy rating to a hold rating in a research note issued to investors on Thursday.

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 issued reports on HTGM. Canaccord Genuity increased their target price on HTG Molecular Diagnostics to $5.00 in a research note on Friday, January 5th. HC Wainwright set a $6.00 target price on HTG Molecular Diagnostics and gave the stock a buy rating in a research note on Wednesday, December 27th. Finally, ValuEngine lowered HTG Molecular Diagnostics from a sell rating to a strong sell rating in a research note on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $5.25.

HTG Molecular Diagnostics (HTGM) traded down $0.11 on Thursday, reaching $3.29. The company had a trading volume of 6,910,124 shares, compared to its average volume of 1,350,000. HTG Molecular Diagnostics has a 1 year low of $1.20 and a 1 year high of $13.25. The firm has a market cap of $36.45 and a price-to-earnings ratio of -1.29.

HTG Molecular Diagnostics (NASDAQ:HTGM) last posted its earnings results on Tuesday, November 7th. The medical research company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.03. research analysts anticipate that HTG Molecular Diagnostics will post -1.92 EPS for the current year.

A hedge fund recently raised its stake in HTG Molecular Diagnostics stock. Vanguard Group Inc. raised its stake in HTG Molecular Diagnostics Inc (NASDAQ:HTGM) by 38.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,234 shares of the medical research company’s stock after purchasing an additional 37,841 shares during the period. Vanguard Group Inc. owned about 1.42% of HTG Molecular Diagnostics worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 15.15% of the stock is owned by hedge funds and other institutional investors.

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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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