Biocept, Inc. (BIOC) Stock Price Up 6.6%
Biocept, Inc. (NASDAQ:BIOC)’s share price rose 6.6% on Friday . The company traded as high as $1.33 and last traded at $1.30, with a volume of 573,027 shares traded. The stock had previously closed at $1.22.
BIOC has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Biocept from a “sell” rating to a “strong sell” rating in a report on Friday. Zacks Investment Research upgraded shares of Biocept from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a report on Friday, June 2nd. Finally, Westpark Capital restated an “outperform” rating on shares of Biocept in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $2.25.
The firm has a 50-day moving average price of $1.31 and a 200 day moving average price of $1.63. The stock’s market cap is $39.33 million.
Biocept (NASDAQ:BIOC) last released its quarterly earnings results on Thursday, August 10th. The medical research company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.01. The company had revenue of $1.28 million during the quarter, compared to analysts’ expectations of $1.23 million. Biocept had a negative net margin of 359.48% and a negative return on equity of 550.35%. Analysts anticipate that Biocept, Inc. will post ($0.79) EPS for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in 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. Vanguard Group Inc. raised its stake 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 valued at $1,048,000 after buying an additional 66,746 shares in the last quarter. Finally, Intellectus Partners LLC raised its stake 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 valued at $271,000 after buying an additional 125,000 shares in the last quarter. 6.92% of the stock is owned by institutional investors and hedge funds.
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.