Atossa Genetics (NASDAQ:ATOS) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Atossa Genetics' stock has surpassed its 200-day moving average of $0.79, trading recently at $0.75 with a volume of 746,758 shares.
• Analysts have raised their price targets, with Ascendiant Capital rating it a "buy" and increasing the target from $7.25 to $7.50, while Craig Hallum set a target of $4.00 after rating it as "strong-buy."
• Following their latest earnings report, Atossa Genetics missed analyst expectations with an EPS of ($0.07), leading to a consensus forecast of -0.22 EPS for the year.

Shares of Atossa Genetics Inc. (NASDAQ:ATOS - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.79 and traded as high as $0.79. Atossa Genetics shares last traded at $0.75, with a volume of 746,758 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on ATOS shares. Craig Hallum raised Atossa Genetics to a "strong-buy" rating and set a $4.00 target price for the company in a research note on Thursday, June 5th. Ascendiant Capital Markets lifted their price target on shares of Atossa Genetics from $7.25 to $7.50 and gave the stock a "buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $6.17.

Atossa Genetics Trading Down 2.3%

The firm has a market cap of $98.14 million, a PE ratio of -3.30 and a beta of 0.92. The company has a 50 day moving average price of $0.83 and a 200 day moving average price of $0.79.

Atossa Genetics (NASDAQ:ATOS - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, equities research analysts anticipate that Atossa Genetics Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atossa Genetics

Several hedge funds have recently modified their holdings of ATOS. Ameriprise Financial Inc. purchased a new stake in Atossa Genetics in the second quarter valued at approximately $2,468,000. Renaissance Technologies LLC raised its position in Atossa Genetics by 18.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,557,632 shares of the company's stock valued at $1,471,000 after purchasing an additional 247,562 shares during the period. Northern Trust Corp lifted its position in Atossa Genetics by 7.5% during the 4th quarter. Northern Trust Corp now owns 1,025,724 shares of the company's stock worth $968,000 after acquiring an additional 71,525 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Atossa Genetics during the second quarter worth $381,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Atossa Genetics by 40.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 422,582 shares of the company's stock worth $284,000 after buying an additional 120,934 shares in the last quarter. 12.74% of the stock is owned by institutional investors and hedge funds.

About Atossa Genetics

Atossa Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops medicines in the areas of unmet medical need in oncology for women breast cancer and other conditions in the United States. The company's lead drug candidate is oral (Z)-endoxifen, an active metabolite of tamoxifen, which is in Phase II clinical trials to treat and prevent breast cancer.