HTG Molecular Diagnostics, Inc. (NASDAQ: HTGM)
HTG Molecular Diagnostics, Inc. (HTGM), a company that develops and markets technology platforms that facilitate the routine use of complex molecular profiling yesterday reported their fourth quarter and full year 2016 financial results. HTG reported fourth quarter earnings of a loss of $0.76 per share which was up from the same quarter last year when it reported a loss of $0.83 per share.
HTG reported fourth quarter revenues of $1.5 million which was up from the same quarter last year when it reported $1.22 million in revenues. HTG also announced that their EdgeSeq technology has been successfully adapted for use with QIAGEN Genereader NGS System.
HTG Molecular Diagnostics, Inc. CEO’s Comments
“In 2016, we believe HTG made significant strides in customer adoption and building a solid platform for long-term growth,” said TJ Johnson, HTG’s President and CEO. Globe Newswire
“We are pleased to show the feasibility of using our HTG EdgeSeq technology with the GeneReader NGS System, which will expand the sequencing platforms available for use with our system, and, importantly, advances our precision diagnostics collaboration with QIAGEN. The HTG and QIAGEN teams have been working very closely and we are delighted with their speed and efficiency to accomplish this initial feasibility milestone,” stated TJ Johnson, Chief Executive Officer of HTG.
“Adapting our HTG EdgeSeq technology for detection on the GeneReader NGS System has been fairly straightforward to date and the initial testing results were gratifying,” said Debrah Thompson, Ph.D., HTG’s Vice President of Research. “The level of cooperation between the QIAGEN and HTG technical teams has been outstanding, and we are excited about the future of this collaboration.” Nasdaq
HTGM Technical Analysis
HTGM opened trading yesterday at $3.33 which was up from the previous day’s trading close of $2.14. Shares closed trading yesterday at $3.93 and spiked up after market to $6.04, equivalent to a 54% increase from the closing price.
Taking a look at the daily chart we can see that the last time HTGM traded above these levels we have to go all the way back to October 15th, 2015 when it traded at $6.25. Taking a closer look at the daily chart we can see that before the spike up HTGM had already been in an overall upward trend dating back to February 24th when it traded at $1.23. I found this stock by using finviz and their powerful scanners that are also free!
HTGM has a float of 2.37 million shares and traded 78.50 times the normal daily trading volume on Thursday. For trading purposes, I would like to see HTGM open trading on Friday above $5.25 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
HTG Molecular Diagnostics, Inc. develops and markets technology platforms that facilitate the routine use of complex molecular profiling. The companys HTG Edge and HTG EdgeSeq platforms consist of instrumentation, consumables, and software analytics that are used in molecular profiling applications, including tumor profiling, biomarker development and prospectively, and molecular diagnostic testing. The companys platforms automate the molecular profiling of genes and gene activity using its nuclease protection chemistry on various biological samples.
It provides molecular profiling panels targeting late stage drug development programs with potential breakthrough therapies, such as immuno-oncology. HTG Molecular Diagnostics, Inc. distributes its instruments and consumables directly in the United States and Europe; and through distributors or sales agents in parts of Europe and internationally. The company was formerly known as HTG, Inc. and changed its name to HTG Molecular Diagnostics, Inc. in March 2011. HTG Molecular Diagnostics, Inc. was incorporated in 1997 and is based in Tucson, Arizona. Yahoo Finance