HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) Explodes on Announcement

HTG Molecular Diagnostics, Inc. (Nasdaq:HTGM)

HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) closed Friday at $1.23 and this morning the shares have traded as high as $3.54 – almost a 190% gain! Thinly traded HTGM has an average daily trading volume of barely over 46,000 but by 1PM EST over 9 million shares have traded hands.

HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) this morning announced that its new direct-target sequencing chemistry will be available in the company’s VERI/O laboratory as a service offering beginning in the first quarter of 2017. The new chemistry is designed for direct sequencing of specified DNA and, in the future, RNA targets with the same high sensitivity and specificity as the company’s current HTG EdgeSeq chemistry applications. In 2013, the company commercialized its HTG Edge instrument platform and a portfolio of RNA assays that leverage HTG’s proprietary nuclease protection chemistry. HTG’s product offerings have since expanded to include its HTG EdgeSeq product line, which automates sample and targeted library preparation for next-generation sequencing.

HTG Molecular Diagnostics, Inc. (NASDAQ:HTGM) shows that it is holding $2.29 cash/share and if current levels hold it will be trading above its 52-week high. Sales have been good for this micro-cap biotech. In 2012 they reported a figure of $2.5 million and in 2015 that figure improved to $4.0 million. EPS has not been as bright. They have experienced losses each of the last four years with 2015 showing an EPS loss of $5.03.

Ticker Symbol HTGM
Last Price a/o 12:54 PM EST  $                      2.97
Average Volume                      46,090
Market Cap (mlns)  $                      8.91
Sales (mlns) $4.90
Shares Outstanding (mlns) 7.24
Share Float (mlns) 4.25
Shortable Yes
Optionable No
Inside Ownership 3.70%
Short Float 3.05%
Short Interest Ratio 2.81
Quarterly Return -40.00%
YTD Return -45.09%
Year Return -54.10%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance.


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