Biocept, Inc. (BIOC) Short Interest Down 42.8% in September
Biocept, Inc. (NASDAQ:BIOC) was the recipient of a significant decrease in short interest during the month of September. As of September 29th, there was short interest totalling 2,692,654 shares, a decrease of 42.8% from the September 15th total of 4,706,109 shares. Currently, 11.3% of the company’s stock are short sold. Based on an average daily trading volume, of 170,125 shares, the days-to-cover ratio is currently 15.8 days.
A hedge fund recently raised its stake in Biocept stock. Creative Planning boosted its stake in shares of Biocept, Inc. (NASDAQ:BIOC) by 64,679.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period. 6.92% of the stock is owned by institutional investors.
BIOC has been the topic of a number of recent analyst reports. ValuEngine cut shares of Biocept from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Biocept from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Westpark Capital reiterated an “outperform” rating on shares of Biocept in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $2.50.
Shares of Biocept (NASDAQ BIOC) opened at 1.26 on Friday. Biocept has a 12-month low of $0.74 and a 12-month high of $3.39. The stock’s market cap is $38.12 million. The stock’s 50 day moving average is $1.26 and its 200-day moving average is $1.45.
Biocept (NASDAQ:BIOC) last issued its quarterly earnings data on Thursday, August 10th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Biocept had a negative return on equity of 550.35% and a negative net margin of 359.48%. The firm had revenue of $1.28 million during the quarter, compared to analysts’ expectations of $1.23 million. Equities analysts expect that Biocept will post ($0.79) EPS for the current year.
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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