SOPHiA GENETICS (NASDAQ:SOPH) Shares Gap Down on Disappointing Earnings

SOPHiA GENETICS SA (NASDAQ:SOPH) shares gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $7.11, but opened at $6.50. SOPHiA GENETICS shares last traded at $6.2130, with a volume of 114,598 shares.

The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). The business had revenue of $24.27 million during the quarter, compared to the consensus estimate of $24.03 million. SOPHiA GENETICS had a negative return on equity of 132.47% and a negative net margin of 93.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SOPH shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SOPHiA GENETICS in a research note on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of SOPHiA GENETICS in a research note on Monday, October 12th. Zacks Research upgraded shares of SOPHiA GENETICS to a “hold” rating in a report on Tuesday, July 21st. Finally, BTIG Research boosted their price objective on shares of SOPHiA GENETICS from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

Insider Activity at SOPHiA GENETICS

In other SOPHiA GENETICS news, insider Zhenyu Xu sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $7.18, for a total transaction of $28,720.00. Following the completion of the transaction, the insider owned 541,493 shares of the company’s stock, valued at approximately $3,887,919.74. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philippe Menu sold 5,000 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $7.26, for a total value of $36,300.00. Following the transaction, the insider directly owned 195,993 shares of the company’s stock, valued at $1,422,909.18. This represents a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 215,662 shares of company stock valued at $1,700,149 over the last ninety days. Insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SOPH. Royal Bank of Canada lifted its position in SOPHiA GENETICS by 3,130.2% during the 1st quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock valued at $96,000 after acquiring an additional 18,781 shares during the period. AXQ Capital LP bought a new stake in SOPHiA GENETICS during the second quarter worth about $119,000. Hennion & Walsh Asset Management Inc. purchased a new stake in SOPHiA GENETICS in the second quarter worth about $567,000. Maven Securities LTD purchased a new stake in SOPHiA GENETICS in the second quarter worth about $866,000. Finally, Sowell Financial Services LLC purchased a new stake in SOPHiA GENETICS in the third quarter worth about $2,865,000. 31.59% of the stock is currently owned by institutional investors.

SOPHiA GENETICS Stock Down 10.8%

The stock’s 50 day simple moving average is $7.84 and its two-hundred day simple moving average is $5.96. The firm has a market cap of $531.81 million, a P/E ratio of -5.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.69 and a quick ratio of 2.55.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS SA is a healthcare technology company that develops data-driven solutions for genomic medicine. Its cloud-based platform uses artificial intelligence, machine learning and advanced analytics to help healthcare organizations analyze and interpret complex biological and clinical data.

The company’s primary offering, the SOPHiA DDM platform, supports next-generation sequencing workflows, including data management, quality control, genomic analysis, variant interpretation and reporting.