In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Genmark Diagnostics Inc. (NASDAQ:GNMK) reported that Jennison Associates Llc. has picked up 3,222,716 of common stock as of 2017-02-03.
The acquisition brings the aggregate amount owned by Jennison Associates Llc. to a total of 3,222,716 representing a 6.9% stake in the company.
For those not familiar with the company, GenMark Diagnostics, Inc. (GenMark) is a molecular diagnostics company. The Company focuses on developing and commercializing its eSensor detection technology. Its eSensor electrochemical technology detects multiple distinct biomarkers in a single sample. It sells its XT-8 instrument and related diagnostic and research tests (XT-8 system) in the United States. It has developed and intends to commercially launch its sample-to-answer ePlex instrument and its associated diagnostic tests, which it collectively refers to as its ePlex system, in Europe and the United States. It operates in the development, manufacturing, sales and support of instruments and molecular tests based on its eSensor detection technology segment.
A glance at Genmark Diagnostics Inc. (NASDAQ:GNMK)’s key stats reveals a current market capitalization of 517.68 million based on 46.40 million shares outstanding and a price at last close of $11.42 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-22, Kagnoff picked up 2,000 at a purchase price of $11.80. This brings their total holding to 35,048 as of the date of the filing.
On the sell side, the most recent transaction saw Mendel unload 9,098 shares at a sale price of $12.47. This brings their total holding to 133,301.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Genmark Diagnostics Inc. (NASDAQ:GNMK) as things move forward to see if its progress aligns with these transactions.
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