CombiMatrix Corporation (CBMX) Cut to Neutral at Ladenburg Thalmann Financial Services

Ladenburg Thalmann Financial Services lowered shares of CombiMatrix Corporation (NASDAQ:CBMX) from a buy rating to a neutral rating in a research note published on Friday, Marketbeat Ratings reports.

Separately, Aegis began coverage on shares of CombiMatrix Corporation in a report on Thursday, July 13th. They issued a buy rating and a $8.10 target price for the company.

Shares of CombiMatrix Corporation (CBMX) opened at 7.40 on Friday. The company’s 50-day moving average is $5.32 and its 200 day moving average is $4.88. The stock’s market capitalization is $21.53 million. CombiMatrix Corporation has a 12 month low of $2.15 and a 12 month high of $7.85.

CombiMatrix Corporation (NASDAQ:CBMX) last announced its earnings results on Thursday, August 3rd. The medical research company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.11. The business had revenue of $4.24 million during the quarter, compared to the consensus estimate of $3.89 million. CombiMatrix Corporation had a negative net margin of 15.53% and a negative return on equity of 35.27%. Equities research analysts predict that CombiMatrix Corporation will post ($0.52) earnings per share for the current year.

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An institutional investor recently raised its position in CombiMatrix Corporation stock. Essex Investment Management Co. LLC boosted its position in CombiMatrix Corporation (NASDAQ:CBMX) by 94.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,878 shares of the medical research company’s stock after buying an additional 12,564 shares during the period. Essex Investment Management Co. LLC owned about 0.89% of CombiMatrix Corporation worth $138,000 at the end of the most recent reporting period. 11.49% of the stock is currently owned by institutional investors.

CombiMatrix Corporation Company Profile

CombiMatrix Corporation is a provider of molecular diagnostic solutions. The Company specializes in pre-implantation genetic screening, miscarriage analysis, prenatal diagnosis and pediatric developmental disorders, offering deoxyribonucleic acid-based testing for the detection of genetic abnormalities, which cannot be identified through traditional methodologies.