Nanosphere Inc (NSPH) Files Form 4 Insider Buying : International Inc. Spc Mmcap Buys 2,262,705 Shares

Nanosphere Inc (NSPH): International Inc. Spc Mmcap , 10% owner of Nanosphere Inc purchased 2,262,705 shares on May 26, 2016. The Insider buying transaction was reported by the company on May 31, 2016 to the Securities and Exchange Commission. The shares were purchased at $1.69 per share for a total value of $3,843,778.75 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 26, 2016, International Inc. Spc Mmcap (10% owner) purchased 176,781 shares at $1.68 per share price.

Shares of Nanosphere (NSPH) ended Friday, May 27, 2016 session in red amid volatile trading. The shares closed down -0.01 points or -0.59% at $1.69 with 35,73,629 shares getting traded. Post opening the session at $1.69, the shares hit an intraday low of $1.69 and an intraday high of $1.71 and the price vacillated in this range throughout the day. The company has a market cap of $23 M and the number of outstanding shares has been calculated to be 1,35,44,248 shares. The 52-week high of Nanosphere is $3.9025 and the 52-week low is $0.4801.

Nanosphere Money Flow Index Chart

Company has been under the radar of several Street Analysts.Nanosphere is Downgraded by Rodman & Renshaw to Neutral while Lowering the Price Target of the company shares to $ 1.35 from a previous price target of $2 . Earlier the firm had a rating of Buy on the company shares. The Rating was issued on May 17, 2016.Nanosphere is Initiated by Rodman & Renshaw to Buy and the brokerage firm has set the Price Target at $2. The Rating was issued on Mar 8, 2016.

Nanosphere Inc. is engaged in developing manufacturing and marketing an advanced molecular diagnostics platform the Verigene System which enables genomic and protein testing on a single platform. The Company’s nanoparticle technology provides the solution to run multiple tests simultaneously on the same sample. The Verigene System includes a bench-top molecular diagnostics workstation that is a universal platform for genomic and protein testing. The Verigene System provides for multiple tests to be performed on a single platform including both genomic and protein assays from a single sample. The Verigene System is comprised of a microfluidics processor a touchscreen reader certain disposable consumables used in sample preparation target amplification and test cartridges. The Company is focused on the infectious disease diagnostics market.

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