TrovaGene Inc (NASDAQ:TROV) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 240,191 shares, a drop of 55.4% from the July 31st total of 539,035 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 1,776,100 shares, the short-interest ratio is currently 0.1 days.
Shares of NASDAQ TROV opened at $0.80 on Thursday. TrovaGene has a 52 week low of $0.65 and a 52 week high of $12.96. The stock has a market capitalization of $14.86 million, a P/E ratio of -0.12 and a beta of -0.21.
Several analysts have recently commented on TROV shares. Zacks Investment Research cut shares of TrovaGene from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. ValuEngine upgraded shares of TrovaGene from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. HC Wainwright set a $7.00 target price on shares of TrovaGene and gave the stock a “buy” rating in a research note on Monday, June 4th. Finally, Maxim Group reiterated a “hold” rating on shares of TrovaGene in a research note on Wednesday, May 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. TrovaGene presently has a consensus rating of “Hold” and an average target price of $19.17.
In other news, Director Rodney S. Markin bought 41,200 shares of TrovaGene stock in a transaction dated Wednesday, June 20th. The stock was bought at an average price of $0.85 per share, for a total transaction of $35,020.00. Following the purchase, the director now owns 63,810 shares of the company’s stock, valued at $54,238.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.30% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in TrovaGene stock. Renaissance Technologies LLC lifted its stake in TrovaGene Inc (NASDAQ:TROV) by 58.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 203,802 shares of the medical research company’s stock after purchasing an additional 75,131 shares during the period. Renaissance Technologies LLC owned approximately 1.15% of TrovaGene worth $157,000 as of its most recent SEC filing. Institutional investors and hedge funds own 9.02% of the company’s stock.
Trovagene, Inc, a clinical-stage, precision medicine oncology therapeutics company, develops oncology therapeutics for cancer care by leveraging its proprietary Precision Cancer Monitoring (PCM) technology in tumor genomics. Its lead drug candidate, PCM-075, is a Polo-like Kinase 1 selective adenosine triphosphate competitive inhibitor.
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