Shares of Neurometrix Inc (NASDAQ:NURO) Soar in Pre-Market After Launch of Diabetic Neuropathy Dectection Test


Shares of Neurometrix Inc (NASDAQ:NURO) are up 27.83%, or $2.94 in pre-market trading this morning after the company announced the launch of DPNCheck in Mexico. DPNCheck, which is a nervce conduction test that can be used to evaluate systemic neuropathies like diabetic peripheral neuropathy (DPN), will now be used by one of Mexico’s government healthcare institutions.

This is significant news for Neurometrix Inc (NASDAQ:NURO), as Mexico has a huge amount of adults suffering from type 2 diabetes. Approximately 12% of the adult population is diagnosed, and over 70,000 people die of the disease each year.

“Mexico is a very important component of our international strategy for DPNCheck and we believe this initial sale will help accelerate Scienta Farma’s efforts to expand DPNCheck adoption within the other major government healthcare institutions,” explained Michael MacDonald, NeuroMetrix SVP of Commercial Operations.

The stock closed at $2.3 during the last trading session. It is up 103.54% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 105.81%.

The institutional sentiment decreased to 0.6 in Q2 2015. It’s down 1.15, from 1.75 in 2015Q2. The ratio dived, as 4 funds sold all their Neurometrix Inc shares they owned while 1 reduced their positions. 1 funds bought stakes while 2 increased their total positions. Institutions now own 1.57 million shares which is 3.18% more than the previous share count of 1.52 million in 2015Q2.

Sabby Management Llc holds 0.03% of its total portfolio in Neurometrix Inc, equating to 873,454 shares. Green Owl Capital Management Llc owns 23,208 shares representing 0.02% of their total US portfolio. Moreover, American International Group Inc has 0% of their total portfolio invested in the company, equating to 13 shares. The California-based Blackrock Institutional Trust Company N.A. has a total of 0% of their portfolio invested in the stock. Colony Group Llc, a Massachusetts-based fund reported 5 shares owned.

NeuroMetrix, Inc. is a health-care firm that develops wearable medical technology and point-of-care tests that help patients and physicians manage chronic pain, nerve diseases, and sleep disorders. The company has a market cap of $8.62 million. The Firm is engaged in product development, manufacturing, regulatory affairs and compliance, sales and marketing, and customer support. It currently has negative earnings. The Firm sells medical devices and after-market consumable products and accessories.