Angion Biomedica (NASDAQ:ANGN) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Angion Biomedica (NASDAQ:ANGN – Get Rating) announced its quarterly earnings results on Monday. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.01), MarketWatch Earnings reports. Angion Biomedica had a negative net margin of 108.57% and a negative return on equity of 43.18%.

NASDAQ:ANGN traded down $0.12 on Thursday, reaching $1.10. The stock had a trading volume of 114,399 shares, compared to its average volume of 111,909. Angion Biomedica has a 1-year low of $1.08 and a 1-year high of $16.26. The stock has a fifty day moving average price of $1.78 and a 200-day moving average price of $2.51.

ANGN has been the topic of a number of research analyst reports. HC Wainwright lowered their price objective on shares of Angion Biomedica from $50.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, April 18th. Zacks Investment Research raised shares of Angion Biomedica from a “hold” rating to a “strong-buy” rating and set a $2.50 price objective for the company in a research note on Tuesday, April 5th.

Hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in Angion Biomedica by 46.2% in the third quarter. California State Teachers Retirement System now owns 11,762 shares of the company’s stock valued at $115,000 after purchasing an additional 3,717 shares in the last quarter. Citigroup Inc. boosted its holdings in Angion Biomedica by 275.2% during the fourth quarter. Citigroup Inc. now owns 9,313 shares of the company’s stock worth $27,000 after purchasing an additional 6,831 shares during the last quarter. American International Group Inc. lifted its stake in Angion Biomedica by 266.3% in the third quarter. American International Group Inc. now owns 11,915 shares of the company’s stock valued at $116,000 after acquiring an additional 8,662 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Angion Biomedica during the 4th quarter worth about $31,000. Finally, Morgan Stanley lifted its stake in shares of Angion Biomedica by 44.0% during the 3rd quarter. Morgan Stanley now owns 39,453 shares of the company’s stock worth $385,000 after buying an additional 12,057 shares during the last quarter. Institutional investors own 23.43% of the company’s stock.

About Angion Biomedica (Get Rating)

Angion Biomedica Corp., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule therapeutics for acute organ injuries and fibrotic diseases. The company's lead product candidate is ANG-3070, an oral tyrosine kinase receptor inhibitor in development as a treatment for fibrotic diseases, primarily in the kidney and lung.

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