Enzo Biochem Inc. (NYSE:ENZ) shares shot up 9.5% during mid-day trading on Friday following a better than expected earnings announcement. The company traded as high as $5.70 and last traded at $5.55, with a volume of 411,025 shares traded. The stock had previously closed at $5.07.
The company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.02. Enzo Biochem had a negative return on equity of 20.77% and a net margin of 17.27%. The firm earned $26.60 million during the quarter. During the same period last year, the firm earned ($0.06) EPS.
Separately, Zacks Investment Research downgraded Enzo Biochem from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th.
A number of hedge funds and other institutional investors have recently made changes to their positions in ENZ. BlackRock Fund Advisors boosted its position in shares of Enzo Biochem by 1,067.3% in the second quarter. BlackRock Fund Advisors now owns 1,030,773 shares of the company’s stock valued at $6,154,000 after buying an additional 942,472 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of Enzo Biochem during the second quarter valued at $2,969,000. State Street Corp boosted its position in shares of Enzo Biochem by 2,158.8% in the second quarter. State Street Corp now owns 494,216 shares of the company’s stock valued at $2,949,000 after buying an additional 472,336 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Enzo Biochem by 102.0% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 852,438 shares of the company’s stock valued at $5,089,000 after buying an additional 430,395 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Enzo Biochem by 24.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,628,583 shares of the company’s stock valued at $9,723,000 after buying an additional 315,111 shares in the last quarter. Institutional investors own 53.29% of the company’s stock.
The firm’s 50-day moving average is $5.34 and its 200 day moving average is $5.69. The company has a market capitalization of $260.47 million, a P/E ratio of 14.74 and a beta of 1.50.
About Enzo Biochem
Enzo Biochem, Inc (Enzo) is an integrated life science and biotechnology company, which is engaged in the research, development, manufacturing and marketing of diagnostic and research products based on genetic engineering, biotechnology and molecular biology. These products are designed for the diagnosis of and/or screening for infectious diseases, cancers, genetic defects and other medically pertinent diagnostic information and are distributed in the United States and internationally.
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