Biocept Inc (NASDAQ:BIOC) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 429,400 shares, an increase of 77.3% from the September 15th total of 242,200 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is presently 0.3 days.
NASDAQ:BIOC opened at $4.70 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.16 and a quick ratio of 4.99. The firm has a market capitalization of $62.95 million, a price-to-earnings ratio of -0.77 and a beta of 0.83. Biocept has a one year low of $2.11 and a one year high of $13.00. The business has a fifty day moving average price of $4.56 and a 200-day moving average price of $5.54.
Biocept (NASDAQ:BIOC) last posted its quarterly earnings data on Wednesday, August 12th. The medical research company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $0.92 million during the quarter, compared to analyst estimates of $1.30 million. Biocept had a negative return on equity of 142.34% and a negative net margin of 462.43%. On average, equities research analysts expect that Biocept will post -0.42 earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Biocept stock. Hudson Bay Capital Management LP acquired a new position in Biocept Inc (NASDAQ:BIOC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,037 shares of the medical research company’s stock, valued at approximately $26,000. Institutional investors and hedge funds own 10.24% of the company’s stock.
Several research firms recently issued reports on BIOC. Maxim Group upped their price objective on Biocept from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Zacks Investment Research cut Biocept from a “buy” rating to a “hold” rating in a research report on Wednesday.
Biocept Company Profile
Biocept, Inc, an early stage molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA assays utilizing a standard blood sample. The company's cancer assays provide information to healthcare providers to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy at diagnosis, progression, and monitoring in order to identify resistance mechanisms.
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