Goldman Sachs Group Inc. Buys New Stake in Signal Genetics, Inc. (MGEN)
Goldman Sachs Group Inc. bought a new position in shares of Signal Genetics, Inc. (NASDAQ:MGEN) during the first quarter, Holdings Channel reports. The fund bought 64,845 shares of the medical research company’s stock, valued at approximately $807,000. Goldman Sachs Group Inc. owned about 0.05% of Signal Genetics as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of MGEN. FMR LLC bought a new position in Signal Genetics during the first quarter worth about $38,874,000. University of Texas Investment Managment Co. bought a new position in Signal Genetics during the first quarter worth about $1,312,000. Dowling & Yahnke LLC bought a new position in Signal Genetics during the first quarter worth about $498,000. Finally, HighTower Advisors LLC bought a new position in Signal Genetics during the first quarter worth about $471,000. 16.50% of the stock is owned by institutional investors.
Signal Genetics, Inc. (NASDAQ:MGEN) traded up 0.62% on Wednesday, hitting $9.67. 2,216 shares of the company’s stock were exchanged. The company’s market cap is $206.95 million. The company’s 50-day moving average price is $13.35 and its 200-day moving average price is $12.18. Signal Genetics, Inc. has a 12-month low of $1.80 and a 12-month high of $18.00.
Signal Genetics (NASDAQ:MGEN) last released its quarterly earnings results on Friday, August 11th. The medical research company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.13. Signal Genetics had a negative net margin of 763.44% and a negative return on equity of 119.44%. The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $0.46 million. Analysts forecast that Signal Genetics, Inc. will post ($1.42) earnings per share for the current year.
A number of research analysts have issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $26.00 price target on shares of Signal Genetics in a report on Tuesday, July 25th. Cowen and Company assumed coverage on shares of Signal Genetics in a report on Thursday, June 1st. They issued an “outperform” rating for the company. Zacks Investment Research raised shares of Signal Genetics from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Signal Genetics in a report on Tuesday, May 2nd. Finally, ValuEngine raised shares of Signal Genetics from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $15.25.
Signal Genetics Company Profile
Signal Genetics, Inc is a commercial stage, molecular genetic diagnostic company. The Company is focused on providing diagnostic services that help physicians to make decisions concerning the care of cancer patients. The Company’s diagnostic service is the Myeloma Prognostic Risk Signature (MyPRS) test.
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