Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $0.25 and last traded at $0.28, with a volume of 3786800 shares trading hands. The stock had previously closed at $0.28.
A number of equities research analysts have recently issued reports on NVCN shares. Canaccord Genuity restated a “buy” rating and set a $1.05 price target on shares of Neovasc Inc (US) in a report on Friday, January 19th. Zacks Investment Research lowered shares of Neovasc Inc (US) from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, ValuEngine lowered shares of Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $2.95.
The stock has a market capitalization of $22.48, a price-to-earnings ratio of 1.17 and a beta of -0.24.
A number of institutional investors have recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP acquired a new position in Neovasc Inc (US) in the 4th quarter valued at approximately $6,213,000. Gagnon Advisors LLC increased its stake in Neovasc Inc (US) by 50.1% in the 4th quarter. Gagnon Advisors LLC now owns 1,829,482 shares of the medical equipment provider’s stock valued at $1,098,000 after buying an additional 610,376 shares during the period. Finally, Virtu KCG Holdings LLC acquired a new position in Neovasc Inc (US) in the 2nd quarter valued at approximately $149,000. Hedge funds and other institutional investors own 32.83% of the company’s stock.
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Neovasc Inc (US) Company Profile
Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.
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