Harvard Bioscience Stock Set to Reverse Split on Monday, March 16th (NASDAQ:HBIO)

Shares of Harvard Bioscience, Inc. (NASDAQ:HBIO) are set to reverse split on the morning of Monday, March 16th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 15th.

Harvard Bioscience Trading Down 4.3%

Shares of HBIO opened at $0.51 on Thursday. Harvard Bioscience has a twelve month low of $0.28 and a twelve month high of $0.95. The firm has a market capitalization of $22.68 million, a P/E ratio of -0.42 and a beta of 1.51. The firm’s 50-day moving average is $0.58 and its two-hundred day moving average is $0.57.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Harvard Bioscience

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Harvard Bioscience by 44.4% during the fourth quarter. Bank of America Corp DE now owns 38,883 shares of the medical instruments supplier’s stock worth $82,000 after acquiring an additional 11,948 shares during the last quarter. Geode Capital Management LLC raised its holdings in Harvard Bioscience by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 460,793 shares of the medical instruments supplier’s stock valued at $308,000 after acquiring an additional 18,923 shares during the last quarter. Legato Capital Management LLC raised its holdings in Harvard Bioscience by 210.4% in the 4th quarter. Legato Capital Management LLC now owns 43,467 shares of the medical instruments supplier’s stock valued at $29,000 after acquiring an additional 29,462 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Harvard Bioscience by 291.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 49,751 shares of the medical instruments supplier’s stock worth $33,000 after purchasing an additional 37,057 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Harvard Bioscience during the 4th quarter worth $26,000. 80.87% of the stock is owned by institutional investors and hedge funds.

About Harvard Bioscience

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.