Notable Price Action: Will GenMark Diagnostics, Inc Go Down Anytime Soon?

Notable Price Action: Will GenMark Diagnostics, Inc Go Down Anytime Soon?

The stock of GenMark Diagnostics, Inc (NASDAQ:GNMK) is a huge mover today! About 317,413 shares traded hands or 7.68% up from the average. GenMark Diagnostics, Inc (NASDAQ:GNMK) has risen 108.73% since April 4, 2016 and is uptrending. It has outperformed by 107.64% the S&P500.
The move comes after 6 months positive chart setup for the $503.16M company. It was reported on Nov, 4 by Barchart.com. We have $14.80 PT which if reached, will make NASDAQ:GNMK worth $115.73M more.

GenMark Diagnostics, Inc (NASDAQ:GNMK) Ratings Coverage

Out of 3 analysts covering Genmark Diagnostics (NASDAQ:GNMK), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Genmark Diagnostics has been the topic of 5 analyst reports since October 14, 2015 according to StockzIntelligence Inc. As per Wednesday, October 28, the company rating was maintained by Needham. Needham maintained it with “Buy” rating and $11 target price in Wednesday, February 24 report. The firm has “Outperform” rating given on Friday, September 16 by Cowen & Co.

According to Zacks Investment Research, “GenMark Diagnostics, Inc. is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor(R) detection technology. The eSensor® XT-8 system is the second generation in GenMark Dx’s eSensor® platform, utilizing electrochemical detection technology to detect nucleic acids on a microarray. The XT-8 System enables multiplex detection of DNA and RNA targets. The Company has developed four diagnostic tests for use with its XT-8 System. Its Cystic Fibrosis Genotyping Test, which detects pre-conception risks of cystic fibrosis, and its Warfarin Sensitivity Test, which determines an individual’s ability to metabolize the oral anticoagulant warfarin, have received FDA clearance. It has also developed a Respiratory Viral Panel Test, which detects the presence of major respiratory viruses, and a Thrombosis Risk Test, which detects an individual’s increased risk of blood clots. GenMark Diagnostics, Inc. is based in Pasadena, California.”

Insitutional Activity: The institutional sentiment decreased to 0.91 in 2016 Q2. Its down 0.50, from 1.41 in 2016Q1. The ratio turned negative, as 11 funds sold all GenMark Diagnostics, Inc shares owned while 23 reduced positions. 3 funds bought stakes while 28 increased positions. They now own 43.35 million shares or 1.06% less from 43.82 million shares in 2016Q1.
Ironwood Fincl Llc has 0.02% invested in the company for 3,550 shares. Blackrock Invest Management Lc holds 0% or 154,094 shares in its portfolio. Bnp Paribas Arbitrage Sa holds 0% or 1,548 shares in its portfolio. Artisan Prtnrs Partnership holds 0.04% of its portfolio in GenMark Diagnostics, Inc (NASDAQ:GNMK) for 2.10M shares. American Grp, a New York-based fund reported 23,108 shares. Hightower Advsr Lc holds 0.01% of its portfolio in GenMark Diagnostics, Inc (NASDAQ:GNMK) for 46,301 shares. Swiss National Bank accumulated 64,800 shares or 0% of the stock. New York State Common Retirement Fund last reported 383,748 shares in the company. Blackrock Institutional Trust Na last reported 717,276 shares in the company. Moreover, State Board Of Administration Of Florida Retirement has 0% invested in GenMark Diagnostics, Inc (NASDAQ:GNMK) for 17,007 shares. Deutsche Retail Bank Ag has 300,649 shares for 0% of their US portfolio. Rhumbline Advisers has 0% invested in the company for 46,298 shares. Jennison Associates Limited Liability Corporation owns 3.05 million shares or 0.03% of their US portfolio. Turner Invs Lp owns 25,000 shares or 0.07% of their US portfolio. Great West Life Assurance Can holds 0% or 8,900 shares in its portfolio.

Insider Transactions: Since May 9, 2016, the stock had 1 insider purchase, and 24 sales for $416,178 net activity. MASSARANY HANY had sold 1,186 shares worth $10,306. The insider Gleeson Michael sold $67,500. Chakravarty Ingo had sold 582 shares worth $3,154. Williams Jennifer Anne sold $208,604 worth of stock. Kayyem Jon Faiz sold 310 shares worth $2,694. 823 shares were bought by Giles Lisa M., worth $7,736 on Friday, August 12. The insider Stier Eric sold $1,973.

More notable recent GenMark Diagnostics, Inc (NASDAQ:GNMK) news were published by: Fool.com which released: “Why GenMark Diagnostics, Inc. Is Soaring Today” on September 16, 2016, also Businesswire.com with their article: “GenMark Diagnostics Reports Q3 Financial Results” published on November 03, 2016, Businesswire.com published: “GenMark Diagnostics to Present at the Canaccord Genuity Medical Technologies …” on November 01, 2016. More interesting news about GenMark Diagnostics, Inc (NASDAQ:GNMK) were released by: Quotes.Wsj.com and their article: “News GenMark Diagnostics Inc.GNMK” published on February 11, 2011 as well as Seekingalpha.com‘s news article titled: “GenMark Diagnostics Is A Worthy Fourth-Quarter Buying Opportunity” with publication date: August 26, 2016.

GNMK Company Profile

GenMark Diagnostics, Inc. (GenMark), incorporated on February 12, 2010, is a molecular diagnostics company. The Firm focuses on developing and commercializing its eSensor detection technology. The Company’s eSensor electrochemical technology enables detection of multiple distinct biomarkers in a single sample. The Firm sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States. In addition, it has developed and intends to commercially launch its sample-to-answer ePlex instrument and its associated diagnostic tests, which it collectively refers to as its ePlex system, in Europe and the United States. It operates in the development, manufacturing, sales and support of instruments and molecular tests based on its eSensor detection technology segment. The Company’s XT-8 system received 510(k) clearance from the United States Food and Drug Administration (FDA) and is designed to support a range of molecular research and diagnostic tests with a workstation and disposable test cartridges. The Company’s XT-8 system supports approximately 20 independent test cartridges. It has an installed base of over 630 XT-8 analyzers, or placements, with its customers. It has a menu of approximately eight tests for use with its XT-8 system. Approximately four of its diagnostic tests, which run on its XT-8 instrument, have received United States Food and Drug Administration clearance, including Cystic Fibrosis Genotyping Test, Warfarin Sensitivity Test, Thrombophilia Risk Test and Respiratory Viral Panel.

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