Separately, HC Wainwright reiterated a buy rating and set a $24.00 target price on shares of Avinger in a research report on Friday, July 28th.
Avinger Price Performance
Avinger (NASDAQ:AVGR – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported ($8.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($7.35) by ($1.50). Avinger had a negative net margin of 208.86% and a negative return on equity of 6,767.92%. The business had revenue of $2.04 million during the quarter, compared to analyst estimates of $2.30 million. On average, research analysts expect that Avinger will post -19.79 earnings per share for the current fiscal year.
Institutional Trading of Avinger
Hedge funds and other institutional investors have recently made changes to their positions in the company. Armistice Capital LLC increased its position in shares of Avinger by 7.8% during the fourth quarter. Armistice Capital LLC now owns 720,136 shares of the medical device company’s stock worth $781,000 after purchasing an additional 52,000 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Avinger during the first quarter worth about $64,000. Renaissance Technologies LLC acquired a new stake in shares of Avinger during the second quarter worth about $42,000. Finally, Prosperity Wealth Management Inc. acquired a new position in Avinger in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 8.14% of the company’s stock.
Avinger, Inc, a commercial-stage medical device company, designs, manufactures, and sells a suite of image-guided and catheter-based systems used by physicians to treat patients with peripheral artery disease (PAD) in the United States and internationally. It develops lumivascular platform that integrates optical coherence tomography visualization with interventional catheters to provide real-time intravascular imaging during the treatment portion of PAD procedures.
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