NEW YORK (TheStreet) -- Shares of Atossa Genetics (ATOS) are down 8.5% to $1.72 on heavy trading volume after the healthcare company, focused on the development and marketing of cellular and molecular diagnostic risk assessment products for breast cancer, was said to face liquidity issues, according to MarketsEmerging.com.
The site noted that in its latest 10-Q, Atossa states that it has sufficient resources to fund operations potentially only through Q1. "On a dubious note," Markets Emerging said, "the firm has apparently hired BDO USA as its accountant. BDO covered Robert Allen Stanford's $7B Ponzi scheme."
The company's stock had jumped 31.5% perhaps, Markets Emerging continued, on an optimistic report issued by Zacks Investment Research, after the company announced on December 19 that its subsidiary in Seattle, WA had begun pharmacogenetics testing as a service to physicians to assist them in prescribing drugs.
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Separately, TheStreet Ratings team rates ATOSSA GENETICS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate ATOSSA GENETICS INC (ATOS) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself."