Biomerica (NASDAQ:BMRA) Director M. Huff Gary Acquires 31,250 Shares of Stock

Biomerica, Inc. (NASDAQ:BMRA) Director M. Huff Gary acquired 31,250 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were bought at an average price of $1.60 per share, with a total value of $50,000.00. Following the completion of the purchase, the director directly owned 51,250 shares of the company’s stock, valued at approximately $82,000. This represents a 156.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Biomerica Stock Performance

Shares of NASDAQ BMRA traded up $0.41 during midday trading on Thursday, reaching $2.10. 3,239,684 shares of the company traded hands, compared to its average volume of 36,798. Biomerica, Inc. has a 12 month low of $1.45 and a 12 month high of $3.24. The stock’s 50-day simple moving average is $1.65 and its 200-day simple moving average is $1.99. The firm has a market cap of $6.49 million, a PE ratio of -2.36 and a beta of 0.35.

Hedge Funds Weigh In On Biomerica

A hedge fund recently bought a new stake in Biomerica stock. BlackRock Inc. bought a new position in shares of Biomerica, Inc. (NASDAQ:BMRA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned about 0.60% of Biomerica as of its most recent filing with the Securities & Exchange Commission. 22.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BMRA. Citizens Jmp started coverage on shares of Biomerica in a report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price target for the company. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Biomerica has a consensus 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.