Gains May Be On The Menu For Genetic Technologies Limited (NASDAQ: GENE)


Renaissance Technologies LLC recently announced the acquisition of new stake in Genetic Technologies Limited (NASDAQ:GENE). The institutional investor has increased its shareholding in the Healthcare company by 25.16% to 0.16 million shares with purchase of 32791.0 shares. This fresh investment now brings its stake to 1.30% valued currently at $0.37 million. In addition, Davis Capital Management LLC (Flo… raised its holdings by 1000.0 to 1000.0 shares.

With over 1.65 million Genetic Technologies Limited (GENE) shares trading Friday and a closing price of $4.09 on the day, the dollar volume was approximately $6.76 million. The shares have shown a negative weekly performance of -27.87% and its price on 07/24/20 lost nearly -4.22%. Currently, there are 12.02M common shares owned by the public and among those 6.08M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for GENE have a consensus price objective of $25.65. The analysts have set the share’s price value over the next 12 months at a high of $25.65 and a low of $25.65 should the stock experience a downside. But an upside of 84.05% will see the stock hit the forecast high price target while mean target price for the stock is $25.65.

Trust for Professional Managers – owns 2167.0 shares of the company’s stock, all valued at over $4941.0.

Shares of Genetic Technologies Limited (NASDAQ: GENE) opened at $4.34, up $0.07 from a prior closing price of $4.27. However, the script later closed the day at $4.09, down -4.22%. The company’s stock has a 5-day price change of -27.87% and 123.50% over the past three months. GENE shares are trading 105.52% year to date (YTD), with the 12-month market performance up to 64.92% higher. It has a 12-month low price of $1.41 and touched a high of $10.30 over the same period. Currently, 1.65 million shares have been traded, compared to an average intraday trading volume of 7.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 41.62%, 66.24%, and 67.29% respectively.

Institutional ownership of Genetic Technologies Limited (NASDAQ: GENE) shares accounts for 2.00% of the company’s 12.02M shares outstanding. Mutual fund holders own 0.02%, while other institutional holders and individual stakeholders account for 1.30% and — respectively.

It has a market capitalization of $43.64M and a beta (3y monthly) value of 2.92. The earnings-per-share (ttm) stands at -$0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.22% over the week and 23.97% over the month.

Analysts forecast that Genetic Technologies Limited (GENE) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.

Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”


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