Biocept, Inc. (NASDAQ:BIOC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Biocept, Inc. is a commercial stage oncology diagnostics company. It has developed technology platforms for capture and analysis of circulating tumor cells and circulating tumor DNA utilizing a standard blood sample to provide physicians. The company offers OncoCEE-BR (TM) test for breast cancer. Biocept, Inc. is headquartered in San Diego, California. “

BIOC has been the topic of a number of other reports. ValuEngine downgraded Biocept from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 8th. Westpark Capital reaffirmed an “outperform” rating on shares of Biocept in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $2.31.

Biocept (NASDAQ:BIOC) traded down 5.200% on Wednesday, hitting $1.185. The company had a trading volume of 411,477 shares. The company’s market capitalization is $31.52 million. The stock’s 50-day moving average price is $1.39 and its 200 day moving average price is $1.68. Biocept has a one year low of $0.74 and a one year high of $3.39.

Biocept (NASDAQ:BIOC) last posted its quarterly earnings results on Thursday, August 10th. The medical research company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.01. Biocept had a negative return on equity of 878.16% and a negative net margin of 359.48%. The firm had revenue of $1.28 million for the quarter, compared to analyst estimates of $1.23 million. On average, analysts expect that Biocept will post $0.40 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Biocept by 9.6% in the second quarter. Vanguard Group Inc. now owns 764,351 shares of the medical research company’s stock valued at $1,048,000 after buying an additional 66,746 shares during the period. Creative Planning increased its stake in shares of Biocept by 64,679.8% in the second quarter. Creative Planning now owns 246,811 shares of the medical research company’s stock valued at $338,000 after buying an additional 246,430 shares during the period. WealthTrust Axiom LLC bought a new stake in shares of Biocept during the first quarter valued at approximately $298,000. Finally, Intellectus Partners LLC increased its stake in shares of Biocept by 6,250.0% in the first quarter. Intellectus Partners LLC now owns 127,000 shares of the medical research company’s stock valued at $271,000 after buying an additional 125,000 shares during the period. 15.27% of the stock is owned by hedge funds and other institutional investors.

About Biocept

Biocept, Inc is an early commercial-stage molecular oncology diagnostics company. The Company develops and commercializes circulating tumor cell (CTC) and circulating tumor deoxyribonucleic acid (ctDNA), assays utilizing a standard blood sample, or liquid biopsy. The Company’s Target-Selector offering is based on an internally developed, microfluidics-based CTC capture and analysis platform, with enabling features that change how CTC testing can be used by clinicians by providing biomarker detection and monitoring requiring only a standard blood sample.

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