SOPHiA GENETICS (NASDAQ:SOPH) Issues Earnings Results

SOPHiA GENETICS (NASDAQ:SOPH) posted its earnings results on Tuesday. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04), Zacks reports. The company had revenue of $15.85 million during the quarter, compared to the consensus estimate of $15.90 million. SOPHiA GENETICS had a negative net margin of 102.84% and a negative return on equity of 47.40%. During the same quarter in the prior year, the business earned ($0.21) EPS. SOPHiA GENETICS updated its FY 2024 guidance to EPS.

SOPHiA GENETICS Stock Performance

Shares of NASDAQ:SOPH remained flat at $3.40 during mid-day trading on Thursday. 26,325 shares of the company were exchanged, compared to its average volume of 67,867. SOPHiA GENETICS has a 52 week low of $2.70 and a 52 week high of $7.37. The company has a current ratio of 4.40, a quick ratio of 4.17 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $3.67 and a 200-day simple moving average of $4.23. The stock has a market capitalization of $222.28 million, a price-to-earnings ratio of -3.12 and a beta of 1.03.

Analysts Set New Price Targets

SOPH has been the subject of several recent analyst reports. Royal Bank of Canada reduced their target price on shares of SOPHiA GENETICS from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley lowered shares of SOPHiA GENETICS from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $10.00 to $5.00 in a research note on Wednesday, August 7th.

About SOPHiA GENETICS

SOPHiA GENETICS SA operates as a cloud-native software technology company in the healthcare space. The company offers SOPHiA DDM platform, a cloud-native software platform for analyzing data and generating insights from multimodal data sets and diagnostic modalities. Its SOPHiA DDM platform and related solutions, applications, products, and services are used by hospitals, laboratories, and biopharmaceutical companies through its own sales force as well as distributors and industry collaborators in Switzerland, France, Italy, rest of Europe, North America, the United States, Latin America, and the Asia-pacific.