Biomerica (NASDAQ:BMRA) CEO Zackary Irani Purchases 31,250 Shares

Biomerica, Inc. (NASDAQ:BMRA) CEO Zackary Irani bought 31,250 shares of Biomerica stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average price of $1.60 per share, with a total value of $50,000.00. Following the acquisition, the chief executive officer directly owned 242,570 shares of the company’s stock, valued at approximately $388,112. This represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Biomerica Stock Up 24.3%

Shares of Biomerica stock traded up $0.41 during midday trading on Thursday, hitting $2.10. The company’s stock had a trading volume of 3,239,684 shares, compared to its average volume of 36,798. Biomerica, Inc. has a 1-year low of $1.45 and a 1-year high of $3.24. The firm has a market capitalization of $6.49 million, a P/E ratio of -2.36 and a beta of 0.35. The stock has a 50-day simple moving average of $1.65 and a 200-day simple moving average of $1.99.

Analyst Upgrades and Downgrades

BMRA has been the topic of several research analyst reports. Citizens Jmp began coverage on Biomerica in a research note on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 target price on the stock. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell” and an average price target of $9.00.

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC increased its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the period. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 as of its most recent filing with the Securities and Exchange Commission. 22.28% of the stock is currently owned by institutional investors.

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.