ARK Investment Management LLC Has $5.55 Million Stake in Conformis, Inc. (NASDAQ:CFMS)

ARK Investment Management LLC trimmed its position in Conformis, Inc. (NASDAQ:CFMSGet Rating) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,977,154 shares of the medical instruments supplier’s stock after selling 56,474 shares during the quarter. ARK Investment Management LLC owned 7.00% of Conformis worth $5,549,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in Conformis in the first quarter valued at $40,000. State Street Corp grew its position in Conformis by 4.2% in the first quarter. State Street Corp now owns 3,368,168 shares of the medical instruments supplier’s stock valued at $2,101,000 after acquiring an additional 136,641 shares during the period. Velan Capital Investment Management LP grew its position in Conformis by 11.5% in the first quarter. Velan Capital Investment Management LP now owns 4,644,507 shares of the medical instruments supplier’s stock valued at $2,897,000 after acquiring an additional 477,900 shares during the period. Wasatch Advisors Inc. grew its position in Conformis by 9.7% in the first quarter. Wasatch Advisors Inc. now owns 20,030,298 shares of the medical instruments supplier’s stock valued at $12,495,000 after acquiring an additional 1,778,054 shares during the period. Finally, Avidian Wealth Solutions LLC grew its position in Conformis by 84.8% in the first 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 period. 43.72% of the stock is currently owned by institutional investors.

Conformis Price Performance

Shares of CFMS stock opened at $0.28 on Monday. The stock’s fifty day moving average is $0.28 and its 200-day moving average is $0.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.77 and a current ratio of 5.71. The stock has a market capitalization of $52.45 million, a PE ratio of -0.82 and a beta of 1.21. Conformis, Inc. has a 52 week low of $0.24 and a 52 week high of $1.85.

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com assumed coverage on Conformis in a research report on Sunday. They issued a “hold” rating on the stock. Canaccord Genuity Group decreased their target price on Conformis from $2.00 to $1.00 and set a “buy” rating on the stock in a report on Thursday, August 11th.

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.

Further Reading

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Institutional Ownership by Quarter for Conformis (NASDAQ:CFMS)

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