Zacks Investment Research Upgrades Hancock Jaffe Laboratories (NASDAQ:HJLI) to Hold

Hancock Jaffe Laboratories (NASDAQ:HJLI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Hancock Jaffe Laboratories, Inc. is involved in developing and manufacturing bioprosthetic medical devices to treat cardiac and vascular diseases. Its product candidates consists of the porcine tissue based VenoValve, which is intended to be surgically implanted in the deep venous system of the leg to treat Chronic Venue Insufficiency; CoreoGraftĂ’, a bovine tissue based off the shelf conduit intended to be used for coronary artery bypass surgery and a porcine tissue based heart valve, is an ideal candidate for pediatric aortic/mitral valve replacement. Hancock Jaffe Laboratories, Inc. is based in IRVINE, United States. “

HJLI stock traded up $0.54 during mid-day trading on Wednesday, reaching $6.33. The company’s stock had a trading volume of 200,616 shares, compared to its average volume of 356,231. The company has a market capitalization of $53.89 million, a P/E ratio of -0.84 and a beta of 1.47. The business’s 50 day moving average price is $6.09. Hancock Jaffe Laboratories has a 12 month low of $4.99 and a 12 month high of $20.25.

Hancock Jaffe Laboratories (NASDAQ:HJLI) last issued its earnings results on Wednesday, May 12th. The company reported ($0.48) earnings per share for the quarter. As a group, equities research analysts expect that Hancock Jaffe Laboratories will post -1.55 EPS for the current year.

In other news, Director Francis Duhay acquired 9,492 shares of the firm’s stock in a transaction dated Monday, May 17th. The stock was purchased at an average price of $5.33 per share, for a total transaction of $50,592.36. Following the completion of the acquisition, the director now directly owns 13,160 shares in the company, valued at approximately $70,142.80. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 16,092 shares of company stock valued at $88,942. 4.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HJLI. Dimensional Fund Advisors LP bought a new stake in shares of Hancock Jaffe Laboratories during the first quarter valued at approximately $72,000. Citadel Advisors LLC bought a new stake in shares of Hancock Jaffe Laboratories during the first quarter valued at approximately $77,000. Northern Trust Corp bought a new stake in shares of Hancock Jaffe Laboratories during the first quarter valued at approximately $102,000. UBS Group AG increased its holdings in shares of Hancock Jaffe Laboratories by 1,326.5% during the first quarter. UBS Group AG now owns 17,061 shares of the company’s stock valued at $114,000 after acquiring an additional 15,865 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Hancock Jaffe Laboratories during the first quarter valued at approximately $145,000. Hedge funds and other institutional investors own 9.25% of the company’s stock.

About Hancock Jaffe Laboratories

Hancock Jaffe Laboratories, Inc is a development stage medical device company, which develops tissue based solutions that are designed to be life sustaining or life enhancing for patients with cardiovascular disease, and peripheral arterial and venous disease. Its products include The Bioprosthetic Heart Valve, The CoreoGraft, and The Venous Valve.

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