OpGen (NASDAQ:OPGN) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of OpGen, Inc. (NASDAQ:OPGN) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.94 and traded as high as $1.97. OpGen shares last traded at $1.84, with a volume of 7,457 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on OpGen in a research note on Thursday. They issued a “sell” rating for the company.

OpGen Price Performance

The business has a 50-day moving average of $1.94 and a 200-day moving average of $3.07.

OpGen (NASDAQ:OPGN) last released its quarterly earnings results on Monday, August 19th. The medical research company reported ($1.18) EPS for the quarter. The company had revenue of $0.03 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in OpGen stock. Chase Investment Counsel Corp acquired a new stake in shares of OpGen, Inc. (NASDAQ:OPGN) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 331,890 shares of the medical research company’s stock, valued at approximately $230,000. Chase Investment Counsel Corp owned 2.63% of OpGen as of its most recent SEC filing. 2.68% of the stock is currently owned by institutional investors.

OpGen Company Profile

OpGen, Inc, a precision medicine company, engages in developing and commercializing molecular microbiology solutions in the United States and internationally. Its product portfolio includes Acuitas AMR Gene Panel, an in vitro diagnostic (IVD) test for the detection and identification of various bacterial nucleic acids and genetic determinants of antimicrobial resistance (AMR) from bacterial colonies isolated from any specimen, as well as Curetis CE-IVD-marked polymerase chain reaction-based SARS-CoV-2 test kits.