Cancer Genetics Inc. (CGIX) Sees Large Volume Increase
Shares of Cancer Genetics Inc. (NASDAQ:CGIX) saw unusually-strong trading volume on Wednesday . Approximately 172,315 shares traded hands during trading, an increase of 32% from the previous session’s volume of 130,581 shares.The stock last traded at $2.05 and had previously closed at $2.16.
Separately, Zacks Investment Research upgraded Cancer Genetics from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research report on Thursday, July 28th.
The stock’s market cap is $32.72 million. The stock’s 50 day moving average price is $2.14 and its 200-day moving average price is $2.31.
Cancer Genetics (NASDAQ:CGIX) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.05. During the same quarter in the previous year, the business posted ($0.51) earnings per share. The firm had revenue of $7 million for the quarter, compared to the consensus estimate of $6.50 million. The firm’s quarterly revenue was up 67.3% compared to the same quarter last year. On average, equities analysts predict that Cancer Genetics Inc. will post ($1.19) EPS for the current year.
In related news, Director John Pappajohn purchased 45,000 shares of Cancer Genetics stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average cost of $2.29 per share, with a total value of $103,050.00. Following the completion of the transaction, the director now owns 2,287,109 shares of the company’s stock, valued at approximately $5,237,479.61. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Cancer Genetics, Inc is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.
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