TrovaGene (NASDAQ:TROV) Shares Up 6.9%

TrovaGene Inc (NASDAQ:TROV) shares shot up 6.9% during mid-day trading on Wednesday . The stock traded as high as $2.08 and last traded at $2.01, 317,720 shares changed hands during mid-day trading. A decline of 43% from the average session volume of 554,285 shares. The stock had previously closed at $1.88.

Several research firms recently issued reports on TROV. ValuEngine upgraded shares of TrovaGene from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Noble Financial reiterated a “buy” rating and issued a $23.00 target price on shares of TrovaGene in a research note on Wednesday, August 28th. Finally, Maxim Group reiterated a “buy” rating and issued a $6.00 target price on shares of TrovaGene in a research note on Friday, August 9th.

The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.20 and a current ratio of 3.20. The firm’s 50 day moving average is $1.91 and its 200-day moving average is $2.86. The stock has a market capitalization of $10.91 million, a price-to-earnings ratio of -0.23 and a beta of 0.31.

TrovaGene (NASDAQ:TROV) last posted its earnings results on Thursday, August 8th. The medical research company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.27). TrovaGene had a negative net margin of 3,424.46% and a negative return on equity of 149.88%. The firm had revenue of $0.14 million during the quarter. As a group, sell-side analysts forecast that TrovaGene Inc will post -4.02 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wedbush Securities Inc. acquired a new position in shares of TrovaGene in the 2nd quarter valued at $25,000. Morgan Stanley lifted its stake in shares of TrovaGene by 26,190.3% in the 2nd quarter. Morgan Stanley now owns 27,079 shares of the medical research company’s stock valued at $68,000 after purchasing an additional 26,976 shares during the period. Renaissance Technologies LLC lifted its stake in shares of TrovaGene by 55.5% in the 2nd quarter. Renaissance Technologies LLC now owns 249,121 shares of the medical research company’s stock valued at $623,000 after purchasing an additional 88,900 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of TrovaGene by 320.8% in the 2nd quarter. Vanguard Group Inc. now owns 285,150 shares of the medical research company’s stock valued at $713,000 after purchasing an additional 217,386 shares during the period. Hedge funds and other institutional investors own 12.33% of the company’s stock.

TrovaGene Company Profile (NASDAQ:TROV)

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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