Allen Barbieri Acquires 20,000 Shares of Biomerica (NASDAQ:BMRA) Stock

Biomerica, Inc. (NASDAQ:BMRA) Vice Chairman Allen Barbieri purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, with a total value of $32,000.00. Following the completion of the acquisition, the insider directly owned 73,542 shares of the company’s stock, valued at $117,667.20. This represents a 37.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Biomerica Stock Up 24.3%

BMRA traded up $0.41 on Thursday, reaching $2.10. The company had a trading volume of 3,239,684 shares, compared to its average volume of 36,798. Biomerica, Inc. has a 1 year low of $1.45 and a 1 year high of $3.24. The stock has a market capitalization of $6.49 million, a PE ratio of -2.36 and a beta of 0.35. The stock has a 50-day moving average price of $1.65 and a 200-day moving average price of $1.99.

Institutional Trading of Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC raised its stake in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,925 shares of the company’s stock after buying an additional 6,533 shares during the period. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. 22.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMRA has been the topic of several analyst reports. Weiss Ratings downgraded Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Citizens Jmp assumed coverage on Biomerica in a report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price target for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell” and a consensus target price of $9.00.

Biomerica Company Profile

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.