Biocept, Inc. (BIOC) Trading Up 6.8%
Biocept, Inc. (NASDAQ:BIOC)’s share price was up 6.8% on Friday . The stock traded as high as $1.43 and last traded at $1.41. Approximately 581,902 shares were traded during trading, an increase of 73% from the average daily volume of 336,567 shares. The stock had previously closed at $1.32.
Several equities analysts have recently weighed in on BIOC shares. ValuEngine lowered shares of Biocept from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Biocept from a “hold” rating to a “buy” rating and set a $1.75 price objective for the company in a research report on Friday, June 2nd. Finally, Westpark Capital restated an “outperform” rating on shares of Biocept in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.25.
The company’s 50 day moving average price is $1.29 and its 200-day moving average price is $1.61. The stock’s market capitalization is $42.66 million.
Biocept (NASDAQ:BIOC) last posted its earnings results on Thursday, August 10th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.01. The company had revenue of $1.28 million for the quarter, compared to analyst estimates of $1.23 million. Biocept had a negative return on equity of 550.35% and a negative net margin of 359.48%. On average, equities research analysts predict that Biocept, Inc. will post ($0.79) EPS for the current fiscal year.
A hedge fund recently raised its stake in Biocept stock. Creative Planning increased its holdings in shares of Biocept, Inc. (NASDAQ:BIOC) by 64,679.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,811 shares of the medical research company’s stock after purchasing an additional 246,430 shares during the period. Creative Planning owned approximately 0.93% of Biocept worth $338,000 at the end of the most recent quarter. Institutional investors own 6.92% of the company’s stock.
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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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