BTIG analyst Mark Massaro has maintained their neutral stance on IMDX stock, giving a Hold rating on August 20.
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Mark Massaro’s rating is based on Insight Molecular Diagnostics’ strategic initiatives and current market position. The company, having recently rebranded from Oncocyte, is focusing on expanding its testing services beyond oncology to include transplant testing. Despite the positive outlook with the planned commencement of a kidney transplant clinical trial and the goal to obtain FDA approval by 2026, the impact of these developments on financial performance is expected to take time.
Additionally, while the company has shown progress with better-than-expected Q2 revenue and improved gross margins, the concentrated nature of the transplant testing market and the company’s strategy to increase its presence at major transplant centers are factors contributing to the Hold rating. The partnership with BioRad and the potential for increased market adoption of kitted tests also play a role, but the overall valuation based on an EV/sales multiple relative to peers suggests a neutral stance at this time.
In another report released on August 20, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.50 price target.