TrovaGene Inc (NASDAQ:TROV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Xenomics is a molecular diagnostic company that focuses on the development of DNA-based tests using Transrenal DNA. Xenomics’ patented technology uses safe and simple urine collection and can be applied to a broad range of applications, including prenatal testing, tumor detection and monitoring, tissue transplantation, infectious disease detection, genetic testing for forensic identity determination, drug development, and research to counter bioterrorism. “
Other analysts have also issued reports about the stock. Cantor Fitzgerald restated a “buy” rating on shares of TrovaGene in a report on Wednesday, November 30th. S&P Equity Research boosted their price objective on shares of TrovaGene from $1.55 to $1.80 in a report on Friday, March 10th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.68.
Shares of TrovaGene (NASDAQ:TROV) opened at 1.65 on Wednesday. The company’s market capitalization is $50.51 million. The firm has a 50-day moving average of $2.00 and a 200-day moving average of $3.10. TrovaGene has a 12 month low of $1.50 and a 12 month high of $6.67.
In related news, Director Stanley Tennant acquired 14,966 shares of TrovaGene stock in a transaction that occurred on Friday, December 16th. The shares were purchased at an average cost of $2.00 per share, for a total transaction of $29,932.00. Following the acquisition, the director now owns 207,728 shares in the company, valued at $415,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 29,716 shares of company stock worth $60,860. 10.70% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of TrovaGene by 1.3% in the first quarter. Geode Capital Management LLC now owns 183,442 shares of the company’s stock valued at $853,000 after buying an additional 2,363 shares during the period. Prospera Financial Services Inc raised its stake in shares of TrovaGene by 3.8% in the first quarter. Prospera Financial Services Inc now owns 158,125 shares of the company’s stock valued at $735,000 after buying an additional 5,800 shares during the period. Princeton Capital Management Inc. raised its stake in shares of TrovaGene by 22.2% in the third quarter. Princeton Capital Management Inc. now owns 84,670 shares of the company’s stock valued at $380,000 after buying an additional 15,400 shares during the period. Wells Fargo & Company MN raised its stake in shares of TrovaGene by 91.8% in the third quarter. Wells Fargo & Company MN now owns 36,376 shares of the company’s stock valued at $163,000 after buying an additional 17,411 shares during the period. Finally, State Street Corp raised its stake in shares of TrovaGene by 9.6% in the fourth quarter. State Street Corp now owns 432,910 shares of the company’s stock valued at $910,000 after buying an additional 38,095 shares during the period. Hedge funds and other institutional investors own 27.88% of the company’s stock.
TrovaGene Company Profile
Trovagene, Inc (TrovaGene) is a molecular diagnostic company. The Company focuses on the development and commercialization of a molecular diagnostic technology for use in disease detection and monitoring across a range of medical disciplines. Its primary internal focus is to leverage its cell-free molecular diagnostic platform to facilitate improvements in the field of oncology, while its external focus includes entering into license agreements or collaborations to develop its technology in areas, such as infectious disease, transplant medicine and prenatal genetics.
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