Talis Biomedical (NASDAQ:TLIS) Shares Down 2.3%

Talis Biomedical Co. (NASDAQ:TLIS – Get Rating) traded down 2.3% during trading on Wednesday . The stock traded as low as $0.82 and last traded at $0.82. 42,823 shares traded hands during trading, a decline of 74% from the average session volume of 165,008 shares. The stock had previously closed at $0.84.

TLIS has been the subject of a number of recent research reports. BTIG Research downgraded Talis Biomedical from a “neutral” rating to a “sell” rating in a research note on Friday, March 18th. Bank of America cut their price objective on Talis Biomedical from $3.00 to $1.50 and set an “underperform” rating for the company in a research note on Wednesday, March 16th.

The company has a fifty day moving average of $0.99 and a two-hundred day moving average of $1.94.

Talis Biomedical (NASDAQ:TLIS – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($1.14) by ($0.11). Talis Biomedical had a negative net margin of 3,757.88% and a negative return on equity of 66.55%. The company had revenue of $3.19 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, analysts forecast that Talis Biomedical Co. will post -3.56 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Greenlight Capital Inc. purchased a new stake in Talis Biomedical in the fourth quarter worth $6,293,000. Prelude Capital Management LLC increased its stake in Talis Biomedical by 36.2% in the first quarter. Prelude Capital Management LLC now owns 256,395 shares of the company’s stock worth $362,000 after purchasing an additional 68,126 shares during the period. Geode Capital Management LLC increased its stake in Talis Biomedical by 17.4% in the third quarter. Geode Capital Management LLC now owns 302,968 shares of the company’s stock worth $1,893,000 after purchasing an additional 44,925 shares during the period. Qube Research & Technologies Ltd increased its stake in Talis Biomedical by 153.9% in the fourth quarter. Qube Research & Technologies Ltd now owns 59,161 shares of the company’s stock worth $237,000 after purchasing an additional 35,863 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its stake in Talis Biomedical by 0.4% in the third quarter. ArrowMark Colorado Holdings LLC now owns 5,893,876 shares of the company’s stock worth $36,836,000 after purchasing an additional 21,951 shares during the period. Institutional investors own 65.38% of the company’s stock.

About Talis Biomedical (NASDAQ:TLIS)

Talis Biomedical Corporation operates as a molecular diagnostic company. The company is developing the Talis One system to address limitations of existing point-of-care diagnostic testing technologies for infectious diseases. It also offers Talis One COVID-19 Test System, which focuses on detection of SARS-CoV-2, the virus that causes COVID-19.

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