Biocept, Inc. (NASDAQ:BIOC) Posts Earnings Results, Misses Expectations By $0.01 EPS
Biocept, Inc. (NASDAQ:BIOC) announced its earnings results on Thursday. The medical research company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.01, Morningstar.com reports. Biocept had a negative net margin of 383.29% and a negative return on equity of 1,177.51%. The business had revenue of $1.28 million during the quarter, compared to analyst estimates of $1.23 million.
Biocept (NASDAQ:BIOC) traded down 13.73% during trading on Friday, reaching $1.25. The company had a trading volume of 777,933 shares. The firm’s market capitalization is $33.25 million. Biocept has a 12-month low of $0.74 and a 12-month high of $3.39. The firm’s 50 day moving average price is $1.40 and its 200 day moving average price is $1.68.
A number of institutional investors have recently modified their holdings of BIOC. Intellectus Partners LLC boosted its position in shares of Biocept by 6,250.0% in the first quarter. Intellectus Partners LLC now owns 127,000 shares of the medical research company’s stock worth $271,000 after buying an additional 125,000 shares during the last quarter. WealthTrust Axiom LLC purchased a new position in shares of Biocept during the first quarter worth about $298,000. Creative Planning boosted its position in shares of Biocept by 64,679.8% in the second quarter. Creative Planning now owns 246,811 shares of the medical research company’s stock worth $338,000 after buying an additional 246,430 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Biocept by 9.6% in the second quarter. Vanguard Group Inc. now owns 764,351 shares of the medical research company’s stock worth $1,048,000 after buying an additional 66,746 shares during the last quarter. 15.26% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the company. Westpark Capital restated an “outperform” rating on shares of Biocept in a research note on Thursday, August 3rd. Zacks Investment Research lowered Biocept from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded Biocept from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Biocept currently has an average rating of “Buy” and a consensus target price of $2.31.
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Biocept Company Profile
Biocept, Inc is an early commercial-stage molecular oncology diagnostics company. The Company develops and commercializes circulating tumor cell (CTC) and circulating tumor deoxyribonucleic acid (ctDNA), assays utilizing a standard blood sample, or liquid biopsy. The Company’s Target-Selector offering is based on an internally developed, microfluidics-based CTC capture and analysis platform, with enabling features that change how CTC testing can be used by clinicians by providing biomarker detection and monitoring requiring only a standard blood sample.
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