HC Wainwright started coverage on shares of Cancer Genetics Inc. (NASDAQ:CGIX) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $6.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 235.20% from the stock’s current price.
Several other equities analysts have also recently weighed in on CGIX. Zacks Investment Research upgraded Cancer Genetics from a “hold” rating to a “buy” rating and set a $2.25 price objective on the stock in a research note on Thursday, July 28th. Rodman & Renshaw initiated coverage on Cancer Genetics in a research note on Monday. They set a “buy” rating and a $6.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $7.31.
Cancer Genetics (NASDAQ:CGIX) opened at 1.79 on Tuesday. The company’s 50-day moving average is $2.05 and its 200-day moving average is $2.25. Cancer Genetics has a one year low of $1.72 and a one year high of $8.51. The firm’s market capitalization is $28.85 million.
Cancer Genetics (NASDAQ:CGIX) last issued its quarterly earnings data on Wednesday, August 10th. The company reported ($0.28) earnings per share for the quarter, beating the 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 business had revenue of $7 million for the quarter, compared to analysts’ expectations of $6.50 million. During the same period last year, the business earned ($0.51) EPS. The business’s revenue was up 67.3% on a year-over-year basis. Equities analysts forecast that Cancer Genetics will post ($1.17) earnings per share for the current fiscal year.
In other Cancer Genetics news, Director John Pappajohn bought 45,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were bought at an average cost of $2.29 per share, for a total transaction of $103,050.00. Following the purchase, the director now directly owns 2,287,109 shares of the company’s stock, valued at approximately $5,237,479.61. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 25.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Bridger Management LLC acquired a new stake in Cancer Genetics during the first quarter worth approximately $149,000. 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 worth $168,000 after buying an additional 34,510 shares during the last quarter. Sabby Management LLC raised its stake in shares of 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. Fairbanks Capital Management Inc. purchased a new stake in shares of Cancer Genetics during the second quarter valued at $464,000. Finally, Vanguard Group Inc. raised its stake in shares of 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. Institutional investors own 9.65% of the company’s stock.
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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