Zackary Irani Acquires 31,250 Shares of Biomerica (NASDAQ:BMRA) Stock

Biomerica, Inc. (NASDAQ:BMRA) CEO Zackary Irani bought 31,250 shares of the stock in a transaction on Wednesday, August 26th. The stock was purchased at an average price of $1.60 per share, for a total transaction of $50,000.00. Following the purchase, the chief executive officer directly owned 242,570 shares of the company’s stock, valued at approximately $388,112. This represents a 14.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Biomerica Price Performance

Shares of BMRA stock opened at $2.14 on Friday. Biomerica, Inc. has a fifty-two week low of $1.45 and a fifty-two week high of $3.22. The stock’s 50-day moving average is $1.67 and its two-hundred day moving average is $1.99. The firm has a market cap of $6.61 million, a P/E ratio of -2.40 and a beta of 0.35.

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC raised its stake in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.56% of Biomerica worth $43,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BMRA shares. Weiss Ratings downgraded Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Citizens Jmp assumed coverage on shares of Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price for the company. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Biomerica has an average rating of “Sell” and an average 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.