Avinger (AVGR) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Avinger (NASDAQ:AVGR) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The firm currently has $0.25 target price on the medical device company’s stock.

According to Zacks, “Avinger, Inc. is engaged in designing, manufacturing and selling image-guided, catheter-based systems to treat peripheral arterial disease. The company’s product consists of Lightbox imaging console, Wildcat, Kittycat, Ocelot, Ocelot PIXL, Ocelot MVRX and Juicebox. Avinger, Inc. is based in Redwood City, California. “

Avinger (NASDAQ:AVGR) remained flat at $$0.20 during midday trading on Wednesday. 643,233 shares of the company traded hands, compared to its average volume of 1,242,012. The stock has a market capitalization of $6.56, a P/E ratio of -0.09 and a beta of -0.20. Avinger has a 12-month low of $0.17 and a 12-month high of $3.66.

In other news, insider John B. Ph D. Md Simpson sold 1,074,130 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $0.25, for a total transaction of $268,532.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John B. Ph D. Md Simpson sold 454,584 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $0.27, for a total value of $122,737.68. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Avinger stock. AWM Investment Company Inc. bought a new stake in shares of Avinger Inc (NASDAQ:AVGR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,150,000 shares of the medical device company’s stock, valued at approximately $516,000. AWM Investment Company Inc. owned about 4.81% of Avinger as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 3.79% of the company’s stock.

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Avinger Company Profile

Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.

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