Zacks Investment Research downgraded shares of Cancer Genetics, Inc. (NASDAQ:CGIX) from a hold rating to a sell rating in a research note published on Wednesday morning.
According to Zacks, “Cancer Genetics, Inc. operates as a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. The company’s tests target cancers, including hematological, urogenital, and HPV-associated cancers. It also offers non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals as well as biopharma and biotech. Cancer Genetics, Inc. is headquartered in Rutherford, New Jersey. “
CGIX has been the subject of several other research reports. HC Wainwright reissued a buy rating and set a $6.00 target price on shares of Cancer Genetics in a research note on Thursday, September 21st. Dawson James began coverage on Cancer Genetics in a research note on Tuesday, June 27th. They set a buy rating for the company. ValuEngine downgraded Cancer Genetics from a hold rating to a sell rating in a research note on Friday, September 1st. Finally, Benchmark Co. began coverage on Cancer Genetics in a research note on Monday, June 26th. They set a speculative buy rating and a $6.00 target price for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Cancer Genetics currently has a consensus rating of Hold and a consensus price target of $5.42.
Shares of Cancer Genetics (NASDAQ:CGIX) traded up 0.926% during midday trading on Wednesday, reaching $2.725. 160,508 shares of the company’s stock were exchanged. The company’s 50 day moving average is $3.11 and its 200-day moving average is $3.66. The stock’s market cap is $53.93 million. Cancer Genetics has a 12 month low of $1.10 and a 12 month high of $5.30.
Cancer Genetics (NASDAQ:CGIX) last issued its earnings results on Monday, August 14th. The medical research company reported ($0.16) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). The firm had revenue of $6.60 million during the quarter, compared to the consensus estimate of $7.97 million. Cancer Genetics had a negative return on equity of 48.78% and a negative net margin of 68.48%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. Equities analysts forecast that Cancer Genetics will post ($0.86) EPS for the current fiscal year.
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In other news, Director John Pappajohn acquired 86,185 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $3.24 per share, with a total value of $279,239.40. Following the completion of the purchase, the director now directly owns 2,608,704 shares of the company’s stock, valued at approximately $8,452,200.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 21.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Cancer Genetics by 61.9% in the second quarter. Vanguard Group Inc. now owns 516,785 shares of the medical research company’s stock valued at $2,041,000 after buying an additional 197,619 shares during the period. Renaissance Technologies LLC increased its stake in shares of Cancer Genetics by 44.8% in the first quarter. Renaissance Technologies LLC now owns 449,600 shares of the medical research company’s stock valued at $1,843,000 after buying an additional 139,200 shares during the period. Thompson Davis & CO. Inc. increased its stake in shares of Cancer Genetics by 5,465.0% in the second quarter. Thompson Davis & CO. Inc. now owns 111,300 shares of the medical research company’s stock valued at $440,000 after buying an additional 109,300 shares during the period. Northern Trust Corp increased its stake in shares of Cancer Genetics by 61.0% in the second quarter. Northern Trust Corp now owns 32,122 shares of the medical research company’s stock valued at $127,000 after buying an additional 12,168 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Cancer Genetics in the first quarter valued at approximately $120,000. 16.08% of the stock is owned by institutional investors.
About Cancer Genetics
Cancer Genetics, Inc is a United States-based company, which is engaged in the field of personalized medicine. The Company offers diagnostic products and services that enable precision medicine in the field of oncology through molecular markers and diagnostics. The Company offers a range of laboratory services that provide genomic and biomarker information.
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