Trading was light with 277K shares changing hands by the end of trading on Tuesday. Volume was down 76.03% under the stocks average daily volume.
Traders are a little more bearish on Genmark Diagnostics recently at least if you consider the change in short interest. The firm realized a rise in short interest from September 29, 2017 to October 13, 2017 of 3.03%. Short shares grew from 9,288,980 to 9,570,782 over that period. Days to cover increased 7.0 to 32.0 and the short interest percentage is 0.17% as of October 13.
Here is a rundown on some insider market activity for Genmark Diagnostics (NASDAQ:GNMK). Michael Kagnoff, Director disclosed the purchase of 20,000 shares. The shares were bought on November 6th for an average price of $4.13. The Director now owns $266,026 of the stock according to the SEC filing. Sr VP Jon Faiz Kayyem disclosed the sale of 135 shares of (GNMK). The shares were purchased at an average price of $7.24. Kayyem now owns $1,442,020 of the stock per the Form 4 SEC filing.
James B. Mcnally, SVP, Marketing & Bus Dev reported the sale of 3,084 shares of GNMK stock. The shares were sold on November 2nd for an average price of $7.24. The SVP, Marketing & Bus Dev now owns $357,772 of the stock per the Form 4 SEC filing.
Additionally, here are a few investment firms who have increased or decreased their stake in (GNMK). As of quarter end Alliancebernstein L.P. had disposed of a total of 3,800 shares trimming its holdings by 7.2%. The value of the total investment in Genmark Diagnostics decreased from $628,000 to $475,000 decreasing 24.4% for the reporting period. California State Teachers Retirement System grew its position by buying 3,322 shares an increase of 4.3% in the quarter. California State Teachers Retirement System claims 81,096 shares worth $781,000. The value of the position overall is down by 15.1%.
Tekla Capital Management LLC added to its stake by buying 201,400 shares an increase of 215.7%. Tekla Capital Management LLC now controls 294,749 shares valued at $2,838,000. The total value of its holdings increased 157.1%. Raymond James & Associates expanded its holdings by buying 12,600 shares an increase of 71.0% as of 09/30/2017. Raymond James & Associates currently owns 30,350 shares with a value of $292,000. The total value of its holdings increased 39.0%.
On November 3, 2017 Raymond James Financial reiterated a “Market Perform” rating on the stock. Needham & Company LLC lowered the price target on November 3 changing the forecast from $15.00 to $11.00 with a rating of “Buy”.
On November 3 Cowen and Company left the stock rating at “Buy” targeting a price of $10.00. October 30 investment analysts at Canaccord Genuity made no change to the stock rating of “Buy” projecting a price of $14.00.
October 19 investment analysts at Needham & Company LLC maintained a company rating of “Buy” with a current price target of $15.00. On October 4 Needham & Company LLC held the company rating at “Buy” projecting a price of $15.00.
The company is now up since yesterday’s close of 4.71. The company’s P/E ratio is N/A and market cap is 260.28M. In the latest earnings report the EPS was $-1.23 with 54.80M shares outstanding.
GenMark Diagnostics, Inc., launched on February 12, 2010, is a molecular diagnostics company. The Company is focused on developing and commercializing multiplex molecular tests that aid in the diagnosis of complex medical conditions. The Company develops and commercializes multiplex molecular tests based on its eSensor electrochemical detection technology. It offers four Food and Drug Administration (FDA)-cleared diagnostic tests which run on its XT-8 instrument; its Respiratory Viral Panel; its Cystic Fibrosis Genotyping Test; its Warfarin Sensitivity Test, and its Thrombophilia Risk Test. It also offers a Hepatitis C (HCV) genotyping test and associated custom manufactured reagents, as well as a 2C19 Genotyping Test, versions of which are available for use with its XT-8 instrument for research use only (RUO)..