Femasys (NASDAQ:FEMY) Shares Down 2.8% – Here’s Why

Femasys Inc. (NASDAQ:FEMY)’s stock price was down 2.8% on Monday . The company traded as low as $1.04 and last traded at $1.05. Approximately 60,751 shares traded hands during trading, a decline of 20% from the average daily volume of 75,964 shares. The stock had previously closed at $1.08.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FEMY. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Femasys in a report on Tuesday, December 3rd. Chardan Capital lowered their target price on shares of Femasys from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th.

Femasys Stock Up 1.0 %

The company has a quick ratio of 3.26, a current ratio of 3.94 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $1.09 and a 200 day moving average of $1.12. The firm has a market cap of $24.27 million, a price-to-earnings ratio of -1.31 and a beta of -2.82.

Femasys (NASDAQ:FEMY) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.04). The company had revenue of $0.55 million during the quarter, compared to the consensus estimate of $0.40 million. Femasys had a negative net margin of 1,435.77% and a negative return on equity of 141.49%. As a group, sell-side analysts predict that Femasys Inc. will post -0.84 earnings per share for the current year.

Hedge Funds Weigh In On Femasys

A number of institutional investors and hedge funds have recently made changes to their positions in FEMY. Aljian Capital Management LLC acquired a new position in Femasys during the 3rd quarter worth approximately $27,000. XTX Topco Ltd raised its position in shares of Femasys by 123.9% during the third quarter. XTX Topco Ltd now owns 32,535 shares of the company’s stock worth $36,000 after purchasing an additional 18,004 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Femasys by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 206,483 shares of the company’s stock worth $229,000 after purchasing an additional 17,473 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

About Femasys

Femasys Inc, a biomedical company, develops therapeutic and diagnostic solutions to address unmet women healthcare needs worldwide. The company provides FemVue saline-air device, a contrast-generating product in the United States, Canada, Japan, and Hong Kong; FemCath, a cornual balloon catheter, a single intrauterine directional delivery product that allows for selective evaluation of an individual fallopian tube; and FemCerv, a biopsy device for endocervical curettage, which can be used to sample cervical cells and tissue circumferentially with sample containment within the device to minimize contamination.