Talis Biomedical Co. (NASDAQ:TLIS – Get Free Report)’s stock price dropped 2.2% during trading on Monday . The company traded as low as $8.75 and last traded at $8.90. Approximately 5,311 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 8,900 shares. The stock had previously closed at $9.10.
The stock has a market capitalization of $16.20 million, a price-to-earnings ratio of -0.21 and a beta of 1.71. The company has a 50 day moving average of $8.23 and a 200 day moving average of $7.19.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prelude Capital Management LLC boosted its holdings in Talis Biomedical by 36.2% in the first quarter. Prelude Capital Management LLC now owns 256,395 shares of the company’s stock valued at $362,000 after purchasing an additional 68,126 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Talis Biomedical by 549.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,765 shares of the company’s stock valued at $88,000 after purchasing an additional 91,167 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Talis Biomedical in the second quarter worth about $164,000. Citigroup Inc. purchased a new position in Talis Biomedical during the third quarter valued at approximately $30,000. Finally, BML Capital Management LLC bought a new stake in shares of Talis Biomedical in the 4th quarter valued at approximately $318,000. 43.77% of the stock is currently owned by institutional investors and hedge funds.
Talis Biomedical Corporation operates as a molecular diagnostic company. The company is developing the Talis One system to address limitations of existing point-of-care diagnostic testing technologies for infectious diseases. It also develops Talis One tests for respiratory infections, infections related to women’s health, and sexually transmitted infections; and other tests for the detection of other respiratory infections, such as a respiratory panel test to detect influenza A and influenza B.
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