TransMedics Group ( (TMDX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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TransMedics Group’s stock took a sharp dive following a critical report from Scorpion Capital, which labeled it a short idea with a $0 target, sparking concerns about the company’s market position. This report led to several analyst firms, including JPMorgan, downgrading their evaluations, with JPMorgan moving from Overweight to Neutral due to uncertainties about the report’s impact. Additionally, Baird and Piper Sandler lowered their price targets, expressing worries about the company’s future amidst the controversy. In response, TransMedics defended its business practices and technology, claiming the allegations were misleading and intended to manipulate the market.
More about TransMedics Group
YTD Price Performance: 3.47%
Average Trading Volume: 2,084,585
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $2.31B
For further insights into TMDX stock on TipRanks’ Stock Analysis page.
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