Harvard Bioscience (NASDAQ:HBIO) Share Price Passes Below 200 Day Moving Average – Here’s Why

Harvard Bioscience, Inc. (NASDAQ:HBIO)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.56 and traded as low as $0.4961. Harvard Bioscience shares last traded at $0.5001, with a volume of 187,521 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Harvard Bioscience from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Harvard Bioscience in a research note on Monday, December 29th. Finally, Zacks Research upgraded Harvard Bioscience to a “hold” rating in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.00.

Harvard Bioscience Trading Down 0.4%

The company has a 50 day moving average of $0.67 and a 200 day moving average of $0.56. The firm has a market cap of $22.36 million, a price-to-earnings ratio of -0.41 and a beta of 1.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HBIO. Jane Street Group LLC raised its holdings in shares of Harvard Bioscience by 491.9% during the second quarter. Jane Street Group LLC now owns 70,736 shares of the medical instruments supplier’s stock worth $31,000 after acquiring an additional 58,785 shares during the period. Williams & Novak LLC increased its holdings in Harvard Bioscience by 37.0% during the 2nd quarter. Williams & Novak LLC now owns 106,570 shares of the medical instruments supplier’s stock worth $47,000 after purchasing an additional 28,800 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Harvard Bioscience by 278.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 139,220 shares of the medical instruments supplier’s stock valued at $61,000 after purchasing an additional 102,419 shares during the period. Marshall Wace LLP acquired a new stake in shares of Harvard Bioscience in the 2nd quarter valued at about $61,000. Finally, Bank of America Corp DE lifted its holdings in shares of Harvard Bioscience by 44.4% in the fourth quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock valued at $82,000 after purchasing an additional 11,948 shares in the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.

Harvard Bioscience Company Profile

Harvard Bioscience, Inc develops, manufactures and distributes life science research instruments and consumables used by academic, biopharmaceutical and government laboratories worldwide. The company’s product portfolio spans cellular physiology, microfluidics, electrophysiology and lab automation, providing tools that enable researchers to study everything from cell behavior and organ function to drug delivery and tissue mechanics.

Through its operating units—most notably Harvard Apparatus, BTX, Radnoti and Warner Instruments—Harvard Bioscience offers a diverse range of scientific equipment including precision pumps, stereotaxic instruments, electroporation and gene delivery systems, perfusion systems and microinjection tools.