Separately, Zacks Investment Research cut Cancer Genetics from a buy rating to a hold rating in a report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $7.31.
Shares of Cancer Genetics (NASDAQ:CGIX) traded up 0.54% during midday trading on Monday, hitting $1.86. The stock had a trading volume of 25,333 shares. Cancer Genetics has a 12-month low of $1.72 and a 12-month high of $8.99. The firm’s market cap is $29.98 million. The firm has a 50-day moving average of $2.07 and a 200 day moving average of $2.26.
Cancer Genetics (NASDAQ:CGIX) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.05. Cancer Genetics had a negative return on equity of 72.29% and a negative net margin of 89.60%. The firm earned $7 million during the quarter, compared to analysts’ expectations of $6.50 million. During the same period last year, the firm posted ($0.51) EPS. The business’s revenue was up 67.3% on a year-over-year basis. On average, analysts expect that Cancer Genetics will post ($1.19) earnings per share for the current year.
In other news, Director John Pappajohn bought 45,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was bought at an average cost of $2.29 per share, with a total value of $103,050.00. Following the purchase, the director now owns 2,287,109 shares of the company’s stock, valued at $5,237,479.61. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 25.40% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Bridger Management LLC purchased a new stake in Cancer Genetics during the first quarter valued at approximately $149,000. Sabby Management LLC boosted its stake in Cancer Genetics by 28.5% in the first quarter. Sabby Management LLC now owns 81,300 shares of the company’s stock valued at $231,000 after buying an additional 18,049 shares during the period. Eagle Global Advisors LLC boosted its stake in Cancer Genetics by 69.3% in the second quarter. Eagle Global Advisors LLC now owns 84,320 shares of the company’s stock valued at $168,000 after buying an additional 34,510 shares during the period. Fairbanks Capital Management Inc. purchased a new stake in Cancer Genetics during the second quarter valued at approximately $464,000. Finally, Vanguard Group Inc. boosted its stake in Cancer Genetics by 3.3% in the second quarter. Vanguard Group Inc. now owns 326,966 shares of the company’s stock valued at $651,000 after buying an additional 10,328 shares during the period. 9.65% of the stock is owned by institutional investors.
Cancer Genetics Company Profile
Cancer Genetics, Inc is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.
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