Aegis began coverage on shares of CombiMatrix Corporation (NASDAQ:CBMX) in a research report issued to clients and investors on Thursday, July 13th, Marketbeat.com reports. The firm set a “buy” rating and a $8.10 price target on the medical research company’s stock. Aegis’ price objective would suggest a potential upside of 10.96% from the company’s current price.
Shares of CombiMatrix Corporation (NASDAQ:CBMX) opened at 7.30 on Thursday. The firm’s 50-day moving average is $5.54 and its 200-day moving average is $4.93. CombiMatrix Corporation has a one year low of $2.15 and a one year high of $7.90. The company’s market cap is $21.24 million.
CombiMatrix Corporation (NASDAQ:CBMX) last announced its earnings results on Thursday, August 3rd. The medical research company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.11. The company had revenue of $4.24 million during the quarter, compared to analyst estimates of $3.89 million. CombiMatrix Corporation had a negative net margin of 15.53% and a negative return on equity of 35.27%. On average, equities analysts anticipate that CombiMatrix Corporation will post ($0.52) EPS for the current year.
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A hedge fund recently raised its stake in CombiMatrix Corporation stock. Essex Investment Management Co. LLC increased its stake in CombiMatrix Corporation (NASDAQ:CBMX) by 94.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,878 shares of the medical research company’s stock after buying an additional 12,564 shares during the period. Essex Investment Management Co. LLC owned 0.89% of CombiMatrix Corporation worth $138,000 at the end of the most recent reporting period. 11.49% of the stock is currently owned by institutional investors.
About CombiMatrix Corporation
CombiMatrix Corporation is a provider of molecular diagnostic solutions. The Company specializes in pre-implantation genetic screening, miscarriage analysis, prenatal diagnosis and pediatric developmental disorders, offering deoxyribonucleic acid-based testing for the detection of genetic abnormalities, which cannot be identified through traditional methodologies.
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