GenMark Diagnostics, Inc (NASDAQ:GNMK) CEO Sells $42,979.20 in Stock

GenMark Diagnostics, Inc (NASDAQ:GNMK) CEO Hany Massarany sold 7,744 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $5.55, for a total transaction of $42,979.20. Following the completion of the transaction, the chief executive officer now owns 792,468 shares in the company, valued at approximately $4,398,197.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hany Massarany also recently made the following trade(s):

  • On Tuesday, August 27th, Hany Massarany sold 16,659 shares of GenMark Diagnostics stock. The stock was sold at an average price of $6.03, for a total transaction of $100,453.77.

Shares of NASDAQ GNMK traded down $0.14 during midday trading on Thursday, hitting $5.44. The stock had a trading volume of 141,100 shares, compared to its average volume of 321,765. The business’s 50 day moving average is $5.65 and its 200-day moving average is $6.29. The company has a market cap of $320.60 million, a P/E ratio of -5.98 and a beta of 1.17. GenMark Diagnostics, Inc has a 52 week low of $3.58 and a 52 week high of $8.37. The company has a quick ratio of 2.11, a current ratio of 2.69 and a debt-to-equity ratio of 6.40.

GenMark Diagnostics (NASDAQ:GNMK) last issued its earnings results on Wednesday, November 6th. The medical equipment provider reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $20.92 million during the quarter, compared to the consensus estimate of $20.66 million. GenMark Diagnostics had a negative return on equity of 239.16% and a negative net margin of 60.63%. As a group, analysts expect that GenMark Diagnostics, Inc will post -0.81 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D purchased a new position in shares of GenMark Diagnostics during the third quarter valued at approximately $2,165,000. Northern Trust Corp raised its holdings in shares of GenMark Diagnostics by 1.7% during the second quarter. Northern Trust Corp now owns 675,830 shares of the medical equipment provider’s stock valued at $4,386,000 after purchasing an additional 11,530 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of GenMark Diagnostics by 5.9% during the third quarter. Envestnet Asset Management Inc. now owns 58,888 shares of the medical equipment provider’s stock valued at $357,000 after purchasing an additional 3,287 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of GenMark Diagnostics by 257.5% during the second quarter. AQR Capital Management LLC now owns 42,210 shares of the medical equipment provider’s stock valued at $274,000 after purchasing an additional 30,403 shares during the last quarter. Finally, Cadian Capital Management LP raised its holdings in shares of GenMark Diagnostics by 9.5% during the second quarter. Cadian Capital Management LP now owns 5,640,748 shares of the medical equipment provider’s stock valued at $36,608,000 after purchasing an additional 488,739 shares during the last quarter. 90.93% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on GNMK. ValuEngine upgraded shares of GenMark Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Raymond James upped their target price on shares of GenMark Diagnostics from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. BidaskClub downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. Finally, Zacks Investment Research downgraded shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.33.

About GenMark Diagnostics

GenMark Diagnostics, Inc, a molecular diagnostics company, develops and commercializes molecular tests based on its proprietary eSensor electrochemical detection technology. It provides ePlex instrument and respiratory pathogen panel, which integrates automated nucleic acid extraction and amplification with its eSensor detection technology to enable operators using ePlex system to place patient sample directly into its test cartridge and obtain results.

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Insider Buying and Selling by Quarter for GenMark Diagnostics (NASDAQ:GNMK)

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