Great Basin Scientific Inc (NASDAQ:GBSN) shares are up significantely today for a stock that has seen quite the rollercoaster ride as of late. You may recall back on Wednesday, when we reported that the company was facing a legal investigation for misleading investors.
After dropping heavily on Wednesday, the stock has rebounded nicely today with several analysts still supporting the company, and many investors hoping for FDA approval any day now, although that could be debated.
Great Basin Scientific Inc (NASDAQ:GBSN) does seem to provide for a lot of upside, although their recent filings show that they had an operating loss of $6.7 million for the quarter ending September 30, and these losses have increased earch of the past four quarters.
The stock is up 15.86% or $0.022 following the news, hitting $0.162 per share. About 33.36M shares traded hands or up 35.61% from the average. GBSN has declined 96.53% since May 1, 2015 and is currently downtrending. It has underperformed the S&P500 by 93.74%.
The institutional sentiment decreased to 2.67 in Q2 2015. It’s down Infinity, from Infinity in 2015Q1. The ratio fall, as 2 funds sold all their Great Basin Scientific Inc shares they owned while 1 reduced their positions. 6 funds bought stakes while 2 increased their total positions. Institutions now own 324,542 shares which is 474.04% more than the previous share count of 56,536 in 2015Q1.
Green Owl Capital Management Llc holds 0.13% of its total portfolio in Great Basin Scientific Inc, equating to 62,000 shares. Sabby Management Llc owns 51,771 shares representing 0.01% of their total US portfolio. Moreover, A.R.T. Advisors Llc has 0% of their total portfolio invested in the company, equating to 12,226 shares. The California-based Blackrock Institutional Trust Company N.A. has a total of 0% of their portfolio invested in the stock. Citadel Advisors Llc, a Illinois-based fund reported 16,596 shares owned.
Great Basin Scientific, Inc. is a molecular diagnostic testing company. The company has a market cap of $26.61 million. The Firm is focused on the development and commercialization of its molecular diagnostic platform designed to test for infectious disease. It currently has negative earnings. The Firm has a commercially available test, a diagnostic test for clostridium difficile , which received clearance from the Food and Drug Administration (FDA).