Talis Biomedical (NASDAQ:TLIS) Shares Down 1.8%

Talis Biomedical Co. (NASDAQ:TLIS – Get Rating)’s share price dropped 1.8% during trading on Thursday . The stock traded as low as $0.52 and last traded at $0.53. Approximately 137,153 shares traded hands during trading, a decline of 22% from the average daily volume of 176,019 shares. The stock had previously closed at $0.54.

Talis Biomedical Trading Down 1.8 %

The firm has a 50-day moving average of $0.52 and a 200 day moving average of $0.70.

Talis Biomedical (NASDAQ:TLIS – Get Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.24). The firm had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.20 million. Talis Biomedical had a negative return on equity of 59.90% and a negative net margin of 2,119.66%. As a group, research analysts predict that Talis Biomedical Co. will post -4.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of Talis Biomedical by 549.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,765 shares of the company’s stock valued at $88,000 after buying an additional 91,167 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Talis Biomedical during the 2nd quarter valued at about $164,000. Finally, Prelude Capital Management LLC raised its stake in Talis Biomedical by 36.2% during the 1st quarter. Prelude Capital Management LLC now owns 256,395 shares of the company’s stock valued at $362,000 after purchasing an additional 68,126 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Talis Biomedical Company Profile

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Talis Biomedical Corporation operates as a molecular diagnostic company. The company is developing the Talis One system to address limitations of existing point-of-care diagnostic testing technologies for infectious diseases. It also offers Talis One COVID-19 Test System, which focuses on detection of SARS-CoV-2, the virus that causes COVID-19.