Avinger (NASDAQ:AVGR) Raised to “Buy” at Zacks Investment Research

Avinger (NASDAQ:AVGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, January 3rd. The brokerage currently has a $0.25 target price on the medical device company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 23.15% from the company’s current price.

According to Zacks, “Avinger, Inc. is engaged in designing, manufacturing and selling image-guided, catheter-based systems to treat peripheral arterial disease. The company’s product consists of Lightbox imaging console, Wildcat, Kittycat, Ocelot, Ocelot PIXL, Ocelot MVRX and Juicebox. Avinger, Inc. is based in Redwood City, California. “

Shares of Avinger (AVGR) traded down $0.01 during mid-day trading on Wednesday, reaching $0.20. 927,483 shares of the company’s stock were exchanged, compared to its average volume of 1,440,000. Avinger has a 1-year low of $0.17 and a 1-year high of $3.40. The company has a market cap of $6.39 and a PE ratio of -0.09.

In other news, insider John B. Ph D. Md Simpson sold 1,074,130 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $0.25, for a total transaction of $268,532.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John B. Ph D. Md Simpson sold 454,584 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $0.27, for a total transaction of $122,737.68. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

A hedge fund recently bought a new stake in Avinger stock. AWM Investment Company Inc. purchased a new stake in shares of Avinger Inc (NASDAQ:AVGR) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,150,000 shares of the medical device company’s stock, valued at approximately $516,000. AWM Investment Company Inc. owned approximately 4.81% of Avinger at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.76% of the company’s stock.

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About Avinger

Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.

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