Taurus Asset Management Lowers stake in Chembio Diagnostics Inc (CEMI)

Chembio Diagnostics Inc (CEMI) : Taurus Asset Management reduced its stake in Chembio Diagnostics Inc by 29.57% during the most recent quarter end. The investment management company now holds a total of 27,000 shares of Chembio Diagnostics Inc which is valued at $175,500 after selling 11,335 shares in Chembio Diagnostics Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Chembio Diagnostics Inc makes up approximately 0.03% of Taurus Asset Management’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in CEMI in the latest quarter, The investment management firm added 4,651 additional shares and now holds a total of 20,979 shares of Chembio Diagnostics Inc which is valued at $136,364.Vanguard Group Inc boosted its stake in CEMI in the latest quarter, The investment management firm added 5,749 additional shares and now holds a total of 154,390 shares of Chembio Diagnostics Inc which is valued at $1,003,535. Eam Investors added CEMI to its portfolio by purchasing 131,985 company shares during the most recent quarter which is valued at $948,972. Chembio Diagnostics Inc makes up approx 0.13% of Eam Investors’s portfolio. Stanley-laman Group Ltd. sold out all of its stake in CEMI during the most recent quarter. The investment firm sold 11,269 shares of CEMI which is valued $81,024.

Chembio Diagnostics Inc opened for trading at $7.12 and hit $7.24 on the upside on Thursday, eventually ending the session at $7.17, with a gain of 0.84% or 0.06 points. The heightened volatility saw the trading volume jump to 32,453 shares. Company has a market cap of $86 M.

Many Wall Street Analysts have commented on Chembio Diagnostics Inc. Shares were Reiterated by The Benchmark Company on Aug 11, 2016 to “Speculative Buy” and Lowered the Price Target to $ 9 from a previous price target of $10 .

Chembio Diagnostics Inc. (Chembio) and its wholly owned subsidiary Chembio Diagnostic Systems Inc. develop manufacture market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s main products presently commercially available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies and a multiplex rapid test for the detection of HIV and Syphilis antibodies. The HIV 1/2 rapid tests employ in-licensed and lateral flow technologies that are used with all blood matrices as samples and are manufactured in a standard cassette format a dipstick format and a barrel format. Its Dual Path Platform (DPP) HIV 1/2 Assay detects antibodies to HIV 1 and 2 in oral fluid samples as well as in all blood matrices. Additionally Chembio’s product pipeline includes a multiplex test that detects P24 HIV antigen as well as HIV 1/2 antibodies and a rapid test for the detection of Hepatitis-C antibodies.

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