If you are a shareholder of Great Basin Scientific Inc (NASDAQ:GBSN) then you likely are wondering what’s exactly causing this price depreciation of their stock. Shares of Great Basin Scientific Inc (NASDAQ:GBSN) are down over 50% in the last four trading days alone, and there seems to be no end in site to this downtrend.
Despite the company announcing that they had received an expanded U.S. patent for their compositions for signal amplification just last evening, shares began dropping nearly immediately after the market opened this morning. While many investors believed that this news would have stopped the bleeding, it appeared as if this was another case of ‘sell the news.’ The stock is down 6.90% or $0.25 following the news, hitting $3.35 per share. About 1.65M shares traded hands or 169.58% up from the average. GBSN has risen 2.27% since May 13, 2015 and is uptrending. It has outperformed the S&P500 by 5.95%.
The institutional sentiment decreased to 1.6 in Q2 2015. It’s down 1.07, from 2.67 in 2015Q2. The ratio turned negative, as 5 funds sold all their Great Basin Scientific Inc shares they owned while 0 reduced their positions. 4 funds bought stakes while 4 increased their total positions. Institutions now own 7.69 million shares which is 2268.79% more than the previous share count of 324,542 in 2015Q2.
Green Owl Capital Management Llc holds 0.31% of its total portfolio in Great Basin Scientific Inc, equating to 3.99 million shares. American International Group Inc owns 533 shares representing 0% of their total US portfolio. Moreover, Blackrock Institutional Trust Company N.A. has 0% of their total portfolio invested in the company, equating to 147,378 shares. The Illinois-based Citadel Advisors Llc has a total of 0% of their portfolio invested in the stock. Citigroup Inc, a New York-based fund reported 64 shares owned.
Great Basin Scientific, Inc. is a molecular diagnostic testing company. The company has a market cap of $11.31 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).