Cancer Genetics, Inc. (NASDAQ:CGIX) Cut to “Hold” at Zacks Investment Research
Cancer Genetics, Inc. (NASDAQ:CGIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Cancer Genetics, Inc. operates as a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. The company’s tests target cancers, including hematological, urogenital, and HPV-associated cancers. It also offers non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals as well as biopharma and biotech. Cancer Genetics, Inc. is headquartered in Rutherford, New Jersey. “
Several other research firms have also recently weighed in on CGIX. Dawson James assumed coverage on shares of Cancer Genetics in a research note on Tuesday, June 27th. They issued a “buy” rating for the company. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Cancer Genetics in a research note on Monday, March 27th. Finally, Benchmark Co. assumed coverage on shares of Cancer Genetics in a research note on Monday, June 26th. They issued a “speculative buy” rating and a $6.00 target price for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $5.56.
Cancer Genetics (NASDAQ:CGIX) traded up 1.28% during mid-day trading on Tuesday, reaching $3.95. 71,329 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $3.88 and a 200 day moving average price of $2.96. Cancer Genetics has a 52-week low of $1.10 and a 52-week high of $5.30. The company’s market cap is $78.06 million.
Cancer Genetics (NASDAQ:CGIX) last released its earnings results on Thursday, May 11th. The medical research company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. Cancer Genetics had a negative net margin of 72.03% and a negative return on equity of 48.69%. The business had revenue of $7 million during the quarter, compared to analysts’ expectations of $7.62 million. During the same period last year, the business earned ($0.39) earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. Equities analysts predict that Cancer Genetics will post ($0.85) earnings per share for the current fiscal year.
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In other Cancer Genetics news, Director John Pappajohn purchased 100,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $3.75 per share, with a total value of $375,000.00. Following the acquisition, the director now directly owns 2,542,519 shares of the company’s stock, valued at approximately $9,534,446.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 103,437 shares of company stock valued at $388,076 in the last ninety days. Insiders own 21.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. KCG Holdings Inc. acquired a new stake in shares of Cancer Genetics during the first quarter valued at about $102,000. Bank of Montreal Can acquired a new stake in shares of Cancer Genetics during the first quarter valued at about $120,000. EAM Investors LLC acquired a new stake in shares of Cancer Genetics during the first quarter valued at about $483,000. Finally, Renaissance Technologies LLC increased its stake in shares of Cancer Genetics by 75.7% in the fourth quarter. Renaissance Technologies LLC now owns 310,400 shares of the medical research company’s stock valued at $419,000 after buying an additional 133,700 shares in the last quarter. 12.84% of the stock is owned by institutional investors and hedge funds.
Cancer Genetics Company Profile
Cancer Genetics, Inc is a United States-based company, which is engaged in the field of personalized medicine. The Company offers diagnostic products and services that enable precision medicine in the field of oncology through molecular markers and diagnostics. The Company offers a range of laboratory services that provide genomic and biomarker information.
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