HC Wainwright Reaffirms “Buy” Rating for SOPHiA GENETICS (NASDAQ:SOPH)

SOPHiA GENETICS (NASDAQ:SOPH)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Monday, Benzinga reports. They presently have a $14.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 97.46% from the stock’s previous close.

SOPH has been the topic of several other research reports. BTIG Research raised their price target on SOPHiA GENETICS from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SOPHiA GENETICS in a research report on Friday, July 17th. Finally, Zacks Research raised SOPHiA GENETICS to a “hold” rating in a report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

SOPHiA GENETICS Trading Down 1.8%

SOPHiA GENETICS stock opened at $7.09 on Monday. The stock has a market cap of $594.78 million, a P/E ratio of -6.17 and a beta of 0.95. SOPHiA GENETICS has a fifty-two week low of $3.75 and a fifty-two week high of $8.98. The firm’s fifty day moving average price is $7.95 and its 200-day moving average price is $6.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.55 and a current ratio of 2.69.

SOPHiA GENETICS (NASDAQ:SOPH) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). The business had revenue of $23.31 million during the quarter, compared to analysts’ expectations of $21.72 million. SOPHiA GENETICS had a negative return on equity of 132.47% and a negative net margin of 93.86%. Equities research analysts forecast that SOPHiA GENETICS will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Jurgi Camblong sold 40,172 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $8.13, for a total value of $326,598.36. Following the completion of the transaction, the chairman directly owned 3,395,650 shares in the company, valued at approximately $27,606,634.50. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Abhimanyu Verma sold 5,284 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $8.12, for a total value of $42,906.08. Following the completion of the transaction, the chief technology officer directly owned 166,887 shares in the company, valued at approximately $1,355,122.44. This represents a 3.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 282,543 shares of company stock worth $2,130,026. Corporate insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On SOPHiA GENETICS

Several hedge funds have recently added to or reduced their stakes in SOPH. Maven Securities LTD purchased a new position in SOPHiA GENETICS in the 2nd quarter worth approximately $866,000. AXQ Capital LP bought a new stake in SOPHiA GENETICS in the second quarter valued at approximately $119,000. AWM Investment Company Inc. purchased a new stake in shares of SOPHiA GENETICS during the second quarter valued at approximately $9,809,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of SOPHiA GENETICS during the second quarter valued at approximately $567,000. Finally, Royal Bank of Canada boosted its stake in shares of SOPHiA GENETICS by 3,130.2% during the first quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock valued at $96,000 after purchasing an additional 18,781 shares during the period. Institutional investors own 31.59% of the company’s stock.

About SOPHiA GENETICS

SOPHiA GENETICS is a healthcare technology company that develops cloud-based data analytics solutions for the life sciences and healthcare industries. Its platform is designed to help organizations analyze and interpret complex genomic and multimodal data to support more informed clinical and research decisions.

The company’s principal offering, the SOPHiA DDM platform, combines data management, analytics and artificial intelligence capabilities. It supports applications including cancer genomics, hereditary disease analysis, reproductive health and other areas of precision medicine.