Zacks Investment Research Downgrades HTG Molecular Diagnostics (NASDAQ:HTGM) to Hold

Zacks Investment Research downgraded shares of HTG Molecular Diagnostics (NASDAQ:HTGM) from a buy rating to a hold rating in a research report report published on Thursday, January 18th.

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 analysts have also weighed in on the stock. ValuEngine raised shares of HTG Molecular Diagnostics from a strong sell rating to a sell rating in a research note on Monday, October 23rd. HC Wainwright set a $6.00 price objective on shares of HTG Molecular Diagnostics and gave the company a buy rating in a research note on Wednesday, December 27th. Finally, Canaccord Genuity raised their price objective on shares of HTG Molecular Diagnostics to $5.00 in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. HTG Molecular Diagnostics presently has an average rating of Hold and a consensus target price of $5.31.

HTG Molecular Diagnostics (HTGM) opened at $4.05 on Thursday. The firm has a market cap of $56.42 and a PE ratio of -1.59. HTG Molecular Diagnostics has a 12 month low of $1.20 and a 12 month high of $13.25.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of HTG Molecular Diagnostics by 38.9% in the second quarter. Vanguard Group Inc. now owns 135,234 shares of the medical research company’s stock valued at $359,000 after purchasing an additional 37,841 shares during the period. Private Wealth Partners LLC purchased a new position in shares of HTG Molecular Diagnostics in the fourth quarter valued at approximately $710,000. Finally, Granahan Investment Management Inc. MA boosted its stake in shares of HTG Molecular Diagnostics by 488.3% in the third quarter. Granahan Investment Management Inc. MA now owns 416,608 shares of the medical research company’s stock valued at $708,000 after purchasing an additional 345,798 shares during the period. 8.62% of the stock is owned by institutional investors and hedge funds.

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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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