Chembio Diagnostics, Inc. (CEMI) Files Form 4 Insider Selling : Javan Esfandiari Sells 25,000 Shares

Chembio Diagnostics, Inc. (CEMI): Javan Esfandiari , Chief Science/Tech Officer of Chembio Diagnostics, Inc. sold 25,000 shares on May 31, 2016. The Insider selling transaction was reported by the company on Jun 2, 2016 to the Securities and Exchange Commission. The shares were sold at $8.57 per share for a total value of $214,390.00 , 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 29, 2015, Javan Esfandiari (Chief Science/Technology Offic) sold 20,000 shares at $4.50 per share price.

Chembio Diagnostics Inc: On Wednesday, Jun 1, 2016 heightened volatility was witnessed in Chembio Diagnostics Inc which led to swings in the share price. The shares opened for trading at $8.6 and hit $8.7889 on the upside , eventually ending the session at $8.71, with a gain of 1.40% or 0.12 points. The heightened volatility saw the trading volume jump to 61,042 shares. The 52-week high of the share price is $9.4 and the company has a market cap of $84 M . The 52-week low of the share price is at $3.33.

Chembio Diagnostics Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Chembio Diagnostics Inc is Reiterated by The Benchmark Company to Speculative Buy and the brokerage firm has raised the Price Target to $ 8 from a previous price target of $6 .The Rating was issued on Apr 18, 2016.

Chembio Diagnostics Inc. (Chembio) and its wholly owned subsidiary Chembio Diagnostic Systems Inc. develop manufacture market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s main products presently commercially available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies and a multiplex rapid test for the detection of HIV and Syphilis antibodies. The HIV 1/2 rapid tests employ in-licensed and lateral flow technologies that are used with all blood matrices as samples and are manufactured in a standard cassette format a dipstick format and a barrel format. Its Dual Path Platform (DPP) HIV 1/2 Assay detects antibodies to HIV 1 and 2 in oral fluid samples as well as in all blood matrices. Additionally Chembio’s product pipeline includes a multiplex test that detects P24 HIV antigen as well as HIV 1/2 antibodies and a rapid test for the detection of Hepatitis-C antibodies.

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