TrovaGene (TROV) Shares Down 6.5%
TrovaGene, Inc. (NASDAQ:TROV) shares dropped 6.5% during trading on Thursday . The stock traded as low as $0.41 and last traded at $0.43. Approximately 984,873 shares traded hands during mid-day trading, an increase of 75% from the average daily volume of 562,830 shares. The stock had previously closed at $0.46.
TROV has been the topic of several recent analyst reports. Maxim Group set a $4.00 price target on TrovaGene and gave the stock a “buy” rating in a research report on Wednesday, October 18th. cut TrovaGene from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th.
TrovaGene (NASDAQ:TROV) last released its earnings results on Thursday, November 9th. The medical research company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. TrovaGene had a negative return on equity of 259.94% and a negative net margin of 7,960.05%. The firm had revenue of $0.12 million for the quarter.
Several institutional investors have recently made changes to their positions in TROV. LMR Partners LLP bought a new position in shares of TrovaGene during the second quarter worth about $151,000. Susquehanna International Group LLP boosted its position in TrovaGene by 2,781.0% during the second quarter. Susquehanna International Group LLP now owns 138,031 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 133,240 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in TrovaGene by 1,079.5% during the second quarter. Goldman Sachs Group Inc. now owns 278,186 shares of the medical research company’s stock valued at $351,000 after purchasing an additional 254,601 shares during the last quarter. Institutional investors own 13.92% of the company’s stock.
Trovagene, Inc is a clinical-stage, precision medicine oncology therapeutics company. The Company’s lead drug candidate, PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor. PCM-075 has shown preclinical antitumor activity as a single agent and in synergy combinations with more than ten different chemotherapeutics and targeted therapies, such as Zytiga (abiraterone acetate), Beleodaq (belinostat), Quizartinib (AC220), a development stage FLT3 inhibitor, and Velcade (bortezomib) in Acute Myeloid Leukemia (AML), metastatic Castration-Resistant Prostate Cancer (mCRPC) and other liquid and solid tumor cancers.
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