David Moatazedi Acquires 10,000 Shares of Biomerica (NASDAQ:BMRA) Stock

Biomerica, Inc. (NASDAQ:BMRA) Director David Moatazedi bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, with a total value of $16,000.00. Following the transaction, the director owned 40,625 shares of the company’s stock, valued at $65,000. This represents a 32.65% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Biomerica Price Performance

Shares of NASDAQ:BMRA opened at $2.14 on Friday. The company’s 50-day moving average price is $1.67 and its two-hundred day moving average price is $1.99. Biomerica, Inc. has a one year low of $1.45 and a one year high of $3.22. The stock has a market capitalization of $6.61 million, a PE ratio of -2.40 and a beta of 0.35.

Hedge Funds Weigh In On Biomerica

An institutional investor recently bought a new position in Biomerica stock. BlackRock Inc. purchased a new position in shares of Biomerica, Inc. (NASDAQ:BMRA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica at the end of the most recent quarter. 22.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BMRA has been the topic of a number of recent research reports. Citizens Jmp initiated coverage on Biomerica in a research report on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price on the stock. Weiss Ratings cut Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Biomerica has a consensus rating of “Sell” and an average price target of $9.00.

About Biomerica

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.