Miromatrix Medical (NASDAQ:MIRO) Announces Earnings Results

Miromatrix Medical (NASDAQ:MIROGet Rating) released its earnings results on Monday. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.04), reports. Miromatrix Medical had a negative return on equity of 60.36% and a negative net margin of 91,903.22%. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.01 million.

Miromatrix Medical Price Performance

Shares of NASDAQ MIRO traded down $0.16 during mid-day trading on Thursday, reaching $4.17. The company had a trading volume of 6,950 shares, compared to its average volume of 55,081. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.08. The stock has a market cap of $87.15 million, a PE ratio of -2.99 and a beta of -0.85. The company has a 50-day moving average price of $4.16 and a two-hundred day moving average price of $3.66. Miromatrix Medical has a 1-year low of $2.02 and a 1-year high of $7.74.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on Miromatrix Medical from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday.

Institutional Trading of Miromatrix Medical

Several hedge funds and other institutional investors have recently modified their holdings of MIRO. Commonwealth Equity Services LLC acquired a new stake in shares of Miromatrix Medical in the first quarter worth $105,000. Ulland Investment Advisors LLC acquired a new stake in shares of Miromatrix Medical in the first quarter worth $48,000. Gagnon Advisors LLC boosted its position in shares of Miromatrix Medical by 100.0% in the first quarter. Gagnon Advisors LLC now owns 459,604 shares of the company’s stock worth $1,820,000 after buying an additional 229,802 shares during the period. Gagnon Securities LLC boosted its position in shares of Miromatrix Medical by 107.9% in the first quarter. Gagnon Securities LLC now owns 849,113 shares of the company’s stock worth $3,362,000 after buying an additional 440,726 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Miromatrix Medical by 87.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 68,400 shares of the company’s stock worth $271,000 after buying an additional 32,000 shares during the period. Institutional investors and hedge funds own 15.51% of the company’s stock.

About Miromatrix Medical

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Miromatrix Medical Inc, a life sciences company, develops a novel technology for bioengineering fully transplantable organs. Its proprietary technology is a platform that uses a two-step method of decellularization and recellularization designed to remove the porcine cells from the organs obtained from pigs and replace them with unmodified human cells.

See Also

Earnings History for Miromatrix Medical (NASDAQ:MIRO)

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