Biomerica (NASDAQ:BMRA) Vice Chairman Allen Barbieri Acquires 20,000 Shares of Stock

Biomerica, Inc. (NASDAQ:BMRA) Vice Chairman Allen Barbieri purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average price of $1.60 per share, for a total transaction of $32,000.00. Following the purchase, the insider owned 73,542 shares in the company, valued at approximately $117,667.20. This represents a 37.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Biomerica Price Performance

NASDAQ BMRA opened at $2.10 on Friday. Biomerica, Inc. has a 1-year low of $1.45 and a 1-year high of $3.24. The business has a 50 day simple moving average of $1.66 and a two-hundred day simple moving average of $1.99. The stock has a market capitalization of $6.49 million, a PE ratio of -2.36 and a beta of 0.35.

Hedge Funds Weigh In On Biomerica

A hedge fund recently bought a new position in Biomerica stock. BlackRock Inc. bought a new position in Biomerica, Inc. (NASDAQ:BMRA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned 0.60% of Biomerica as of its most recent SEC filing. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BMRA. Weiss Ratings downgraded shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Citizens Jmp assumed coverage on Biomerica in a research report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Biomerica currently has an average rating of “Sell” and an average price target of $9.00.

Biomerica Company Profile

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.