Insider Buying: Biomerica (NASDAQ:BMRA) CEO Acquires $50,000.00 in Stock

Biomerica, Inc. (NASDAQ:BMRA) CEO Zackary Irani bought 31,250 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, with a total value of $50,000.00. Following the transaction, the chief executive officer owned 242,570 shares in the company, valued at $388,112. The trade was a 14.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Biomerica Stock Up 1.9%

Shares of BMRA stock opened at $2.14 on Friday. The firm has a market capitalization of $6.61 million, a PE ratio of -2.40 and a beta of 0.35. The company has a 50 day moving average price of $1.67 and a 200-day moving average price of $1.99. Biomerica, Inc. has a 52 week low of $1.45 and a 52 week high of $3.22.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Biomerica

A hedge fund recently raised its stake in Biomerica stock. DRW Securities LLC grew its position in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the quarter. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 22.28% of the company’s stock.

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.