Bank of America Lowers Talis Biomedical (NASDAQ:TLIS) Price Target to $1.50

Talis Biomedical (NASDAQ:TLIS – Get Rating) had its target price cut by Bank of America from $3.00 to $1.50 in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. They currently have an underperform rating on the stock.

Separately, Zacks Investment Research upgraded Talis Biomedical from a sell rating to a hold rating in a research report on Thursday, March 10th. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Sell and a consensus target price of $5.83.

TLIS stock opened at $1.55 on Wednesday. The business has a 50-day moving average price of $2.30 and a 200 day moving average price of $4.45. Talis Biomedical has a 1-year low of $0.96 and a 1-year high of $17.21.

Talis Biomedical (NASDAQ:TLIS – Get Rating) last posted its quarterly earnings data on Tuesday, March 15th. The company reported ($1.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.28) by $0.02. Talis Biomedical had a negative net margin of 2,343.90% and a negative return on equity of 67.21%. On average, sell-side analysts anticipate that Talis Biomedical will post -3.35 EPS for the current fiscal year.

Several large investors have recently modified their holdings of TLIS. Wells Fargo & Company MN purchased a new position in Talis Biomedical during the 4th quarter valued at about $32,000. Deutsche Bank AG boosted its stake in shares of Talis Biomedical by 85.9% in the 3rd quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock valued at $94,000 after buying an additional 6,935 shares during the period. Personal CFO Solutions LLC purchased a new position in shares of Talis Biomedical in the 3rd quarter valued at about $106,000. Millennium Management LLC purchased a new position in shares of Talis Biomedical in the 2nd quarter valued at about $157,000. Finally, Morgan Stanley acquired a new stake in shares of Talis Biomedical during the 1st quarter worth about $222,000. 72.38% of the stock is owned by hedge funds and other institutional investors.

About Talis Biomedical (Get Rating)

Talis Biomedical Corporation operates as a molecular diagnostic company. It is developing the Talis One system to address limitations of existing point-of-care diagnostic testing technologies for infectious diseases. The company is also developing Talis One assay kits for respiratory infections, infections related to women’s health, and sexually transmitted infections; and other tests for the detection of other respiratory infections, such as a respiratory panel test to detect influenza A and influenza B plus SARS-CoV-2.

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