Zacks Research Upgrades Harvard Bioscience to ‘Hold’ Rating
Analysts at Zacks Research have upgraded Harvard Bioscience (NASDAQ: HBIO) to a “Hold” rating in a research note released on November 17, 2023. This change reflects a reassessment of the company’s stock amid shifting market dynamics. The upgrade follows a series of evaluations by other research firms, indicating a growing interest in the company’s financial outlook.
In a report dated September 10, 2023, Benchmark lowered its price target for Harvard Bioscience from $3.00 to $2.00, assigning it a “speculative buy” rating. Conversely, Wall Street Zen recently elevated its rating from “Hold” to “Buy,” suggesting a more optimistic view on the company’s potential for growth. Meanwhile, Weiss Ratings maintained a “Sell (D-)” rating on the stock, reflecting a more cautious stance.
Currently, the consensus among analysts shows that one has rated the stock as a Buy, two have assigned it a Hold rating, and one has given it a Sell rating. According to MarketBeat, the average rating for Harvard Bioscience stands at “Hold,” with a consensus target price of $2.00.
Investment Activity and Institutional Ownership
Recent trading activity highlights the interest of institutional investors in Harvard Bioscience. AMH Equity Ltd increased its holdings by 15.4% during the third quarter, now owning 4,047,535 shares valued at approximately $1.775 million after acquiring an additional 538,832 shares. Similarly, Acadian Asset Management LLC raised its position by 7.8% in the first quarter, bringing its total to 1,077,069 shares worth around $606,000.
Two Sigma Investments LP exhibited a significant increase in its stake by 139.7% during the third quarter, now holding 474,157 shares valued at about $208,000. Additionally, Williams & Novak LLC expanded its position by 158.5% in the same period, acquiring 275,500 shares, while Pasadena Private Wealth LLC increased its holdings by 23.2%, totaling 243,911 shares valued at $108,000.
Currently, institutional investors own approximately 80.87% of Harvard Bioscience’s stock, indicating strong institutional confidence in the company’s prospects.
Company Overview and Market Position
Founded to develop, manufacture, and sell technologies and products for life science applications, Harvard Bioscience operates both in the United States and internationally. The company offers a range of cellular and molecular technology products, including syringe and peristaltic infusion pumps, electroporation instruments, amino acid analyzers, and spectrophotometers.
Its portfolio also includes precision scientific measuring instruments, data acquisition systems for cellular analysis, and microelectrode array solutions for both in vivo and in vitro recordings. This diverse range of products positions Harvard Bioscience as a key player in the life sciences sector, catering to various research and clinical needs.
As the market continues to evolve, the adjustments in ratings and institutional trading activity reflect a broader interest in the company’s potential for future growth. Investors are closely monitoring developments as they assess the implications for Harvard Bioscience’s share performance.
