Velan Capital Investment Management LP Grows Stock Holdings in Conformis, Inc. (NASDAQ:CFMS)

Velan Capital Investment Management LP grew its holdings in Conformis, Inc. (NASDAQ:CFMSGet Rating) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,644,507 shares of the medical instruments supplier’s stock after acquiring an additional 477,900 shares during the period. Conformis comprises 2.7% of Velan Capital Investment Management LP’s holdings, making the stock its 12th biggest position. Velan Capital Investment Management LP owned about 2.50% of Conformis worth $2,897,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CFMS. Renaissance Technologies LLC boosted its holdings in shares of Conformis by 5.1% in the 4th quarter. Renaissance Technologies LLC now owns 6,038,901 shares of the medical instruments supplier’s stock valued at $4,598,000 after acquiring an additional 294,813 shares during the last quarter. Stonepine Capital Management LLC boosted its holdings in shares of Conformis by 2,932.7% in the 4th quarter. Stonepine Capital Management LLC now owns 14,768,823 shares of the medical instruments supplier’s stock valued at $11,245,000 after acquiring an additional 14,281,841 shares during the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Conformis by 2.3% in the 4th quarter. Wasatch Advisors Inc. now owns 18,252,244 shares of the medical instruments supplier’s stock valued at $13,897,000 after acquiring an additional 416,296 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of Conformis by 2.8% in the 1st quarter. ARK Investment Management LLC now owns 13,033,628 shares of the medical instruments supplier’s stock valued at $8,130,000 after acquiring an additional 352,228 shares during the last quarter. Finally, Avidian Wealth Solutions LLC boosted its holdings in shares of Conformis by 84.8% in the 1st quarter. Avidian Wealth Solutions LLC now owns 509,968 shares of the medical instruments supplier’s stock valued at $318,000 after acquiring an additional 234,000 shares during the last quarter. 43.72% of the stock is owned by hedge funds and other institutional investors.

Conformis Stock Performance

Shares of NASDAQ CFMS opened at $0.27 on Friday. The company’s fifty day moving average price is $0.29 and its 200 day moving average price is $0.44. Conformis, Inc. has a 1 year low of $0.24 and a 1 year high of $1.96. The company has a market capitalization of $50.76 million, a PE ratio of -0.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.77 and a current ratio of 5.71.

Conformis (NASDAQ:CFMSGet Rating) last announced its quarterly earnings results on Monday, August 8th. The medical instruments supplier reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). Conformis had a negative return on equity of 64.59% and a negative net margin of 99.97%. The firm had revenue of $15.30 million for the quarter, compared to analysts’ expectations of $15.13 million. During the same period last year, the company posted $0.21 earnings per share. On average, research analysts predict that Conformis, Inc. will post -0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CFMS. Canaccord Genuity Group dropped their price objective on shares of Conformis from $2.00 to $1.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. StockNews.com assumed coverage on shares of Conformis in a report on Saturday. They set a “hold” rating on the stock.

Conformis Profile

(Get Rating)

Conformis, Inc, a medical technology company, develops, manufactures, and sells patient-specific products and instrumentation. The company offers personalized knee replacement products, including iUni, iDuo, a custom-made partial knee replacement option for either unicompartmental or bicompartmental osteoarthritis of the knee; iTotal CR, a cruciate retaining total knee replacement product; iTotal PS, a posterior stabilized knee replacement product, as well as provides iTotal Identity and Identity Imprint knee replacement products.

See Also

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Institutional Ownership by Quarter for Conformis (NASDAQ:CFMS)

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