iSpecimen (NASDAQ:ISPC) Stock Price Down 4.6% – Here’s What Happened

iSpecimen Inc. (NASDAQ:ISPC) shares dropped 4.6% on Wednesday . The stock traded as low as $0.3002 and last traded at $0.31. Approximately 446,345 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,653,262 shares. The stock had previously closed at $0.3250.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of iSpecimen in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, iSpecimen has an average rating of “Sell”.

iSpecimen Stock Down 4.6%

The company’s 50 day simple moving average is $0.35 and its 200-day simple moving average is $0.73. The firm has a market cap of $3.03 million, a P/E ratio of -0.04 and a beta of 1.84.

iSpecimen (NASDAQ:ISPC) last issued its quarterly earnings results on Monday, November 17th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($3.80) by $3.32. The firm had revenue of $0.11 million for the quarter, compared to the consensus estimate of $3.33 million. iSpecimen had a negative return on equity of 531.78% and a negative net margin of 343.86%.

Hedge Funds Weigh In On iSpecimen

A hedge fund recently bought a new stake in iSpecimen stock. Scientech Research LLC purchased a new stake in shares of iSpecimen Inc. (NASDAQ:ISPC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,488 shares of the company’s stock, valued at approximately $38,000. Scientech Research LLC owned approximately 0.30% of iSpecimen as of its most recent filing with the Securities & Exchange Commission. 13.62% of the stock is owned by institutional investors.

About iSpecimen

iSpecimen, Inc (NASDAQ:ISPC) operates an online life sciences marketplace designed to connect researchers with human biological specimens and associated clinical data. The company’s platform streamlines the sourcing of biospecimens—such as plasma, serum, fresh and frozen tissue, saliva, urine and peripheral blood mononuclear cells (PBMCs)—by matching demand from pharmaceutical, biotechnology, diagnostic and academic organizations with supply from a wide network of clinical sites and biobanks.

Through its on-demand procurement model, iSpecimen provides customized specimen collection and fulfillment services that help accelerate research timelines and improve data quality.