TrovaGene (TROV) Stock Price Down 10.5%

TrovaGene, Inc. (NASDAQ:TROV) was down 10.5% during trading on Wednesday . The stock traded as low as $0.50 and last traded at $0.51. Approximately 574,089 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 558,335 shares. The stock had previously closed at $0.57.

Several equities research analysts recently commented on TROV shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of TrovaGene in a report on Tuesday, August 8th. Maxim Group set a $4.00 price objective on TrovaGene and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, downgraded TrovaGene from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th.

TrovaGene (NASDAQ:TROV) last released its quarterly earnings results on Thursday, November 9th. The medical research company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. The business had revenue of $0.12 million during the quarter. TrovaGene had a negative return on equity of 259.94% and a negative net margin of 7,960.05%.

Several institutional investors have recently added to or reduced their stakes in TROV. LMR Partners LLP bought a new stake in shares of TrovaGene during the 2nd quarter valued at about $151,000. Susquehanna International Group LLP grew its stake in shares of TrovaGene by 2,781.0% during the 2nd quarter. Susquehanna International Group LLP now owns 138,031 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 133,240 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of TrovaGene by 1,079.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 278,186 shares of the medical research company’s stock valued at $351,000 after purchasing an additional 254,601 shares during the period. Institutional investors and hedge funds own 13.92% of the company’s stock.

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About TrovaGene

Trovagene, Inc is a clinical-stage, precision medicine oncology therapeutics company. The Company’s lead drug candidate, PCM-075, is a Polo-like Kinase 1 (PLK1) selective adenosine triphosphate (ATP) competitive inhibitor. PCM-075 has shown preclinical antitumor activity as a single agent and in synergy combinations with more than ten different chemotherapeutics and targeted therapies, such as Zytiga (abiraterone acetate), Beleodaq (belinostat), Quizartinib (AC220), a development stage FLT3 inhibitor, and Velcade (bortezomib) in Acute Myeloid Leukemia (AML), metastatic Castration-Resistant Prostate Cancer (mCRPC) and other liquid and solid tumor cancers.

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