Biomerica (NASDAQ:BMRA) CEO Zackary Irani Purchases 31,250 Shares

Biomerica, Inc. (NASDAQ:BMRA) CEO Zackary Irani purchased 31,250 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average price of $1.60 per share, for a total transaction of $50,000.00. Following the purchase, the chief executive officer owned 242,570 shares in the company, valued at $388,112. The trade was a 14.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Biomerica Trading Up 24.3%

BMRA stock opened at $2.10 on Friday. Biomerica, Inc. has a 1 year low of $1.45 and a 1 year high of $3.24. The company has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $1.99. The firm has a market cap of $6.49 million, a PE ratio of -2.36 and a beta of 0.35.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC increased its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,925 shares of the company’s stock after buying an additional 6,533 shares during the quarter. DRW Securities LLC owned 0.56% of Biomerica worth $43,000 at the end of the most recent quarter. 22.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings downgraded Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Citizens Jmp assumed coverage on Biomerica in a report on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price for the company. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Biomerica currently 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.