Champions Oncology Inc (NASDAQ:CSBR) shares hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $11.00 and last traded at $9.84, with a volume of 34973 shares. The stock had previously closed at $10.63.

The biotechnology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $6.23 million during the quarter, compared to analyst estimates of $5.85 million. Champions Oncology had a negative return on equity of 531.69% and a negative net margin of 7.44%.

CSBR has been the subject of several research reports. ValuEngine raised Champions Oncology from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. Craig Hallum initiated coverage on Champions Oncology in a report on Tuesday, July 17th. They set a “buy” rating and a $12.00 price objective for the company. Finally, Janney Montgomery Scott initiated coverage on Champions Oncology in a report on Monday, July 9th. They set a “buy” rating for the company.

A number of hedge funds and other institutional investors have recently made changes to their positions in CSBR. BlackRock Inc. bought a new position in Champions Oncology during the second quarter valued at $104,000. Renaissance Technologies LLC grew its holdings in Champions Oncology by 63.3% during the second quarter. Renaissance Technologies LLC now owns 100,600 shares of the biotechnology company’s stock valued at $638,000 after purchasing an additional 39,000 shares during the period. Essex Investment Management Co. LLC bought a new position in Champions Oncology during the second quarter valued at $646,000. Perkins Capital Management Inc. bought a new position in Champions Oncology during the second quarter valued at $653,000. Finally, Tocqueville Asset Management L.P. bought a new position in Champions Oncology during the second quarter valued at $729,000. 38.94% of the stock is owned by institutional investors and hedge funds.

The firm has a market cap of $91.64 million, a price-to-earnings ratio of -76.07 and a beta of 0.12.

About Champions Oncology (NASDAQ:CSBR)

Champions Oncology, Inc develops and sells technology solutions and products to personalize the development and use of oncology drugs in the United States. Its Tumorgraft Technology Platform is an approach to personalizing cancer care based upon the implantation of human tumors in immune-deficient mice.

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