Cancer Genetics, Inc. (NASDAQ:CGIX) 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, “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 analysts have also recently commented on the stock. HC Wainwright set a $6.00 target price on shares of Cancer Genetics and gave the stock a “buy” rating in a report on Tuesday, August 15th. Benchmark Co. started coverage on shares of Cancer Genetics in a research note on Monday, June 26th. They issued a “speculative buy” rating and a $6.00 price target on the stock. Dawson James began coverage on shares of Cancer Genetics in a research note on Tuesday, June 27th. They issued a “buy” rating on the stock. Finally, ValuEngine cut shares of Cancer Genetics from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.42.

Shares of Cancer Genetics (CGIX) remained flat at $2.65 on Wednesday. The company’s stock had a trading volume of 140,140 shares. The firm’s 50 day moving average is $3.16 and its 200 day moving average is $3.67. The company’s market cap is $52.44 million. Cancer Genetics has a one year low of $1.10 and a one year high of $5.30.

Cancer Genetics (NASDAQ:CGIX) last posted its quarterly earnings data on Monday, August 14th. The medical research company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Cancer Genetics had a negative net margin of 68.48% and a negative return on equity of 48.78%. The company had revenue of $6.60 million for the quarter, compared to the consensus estimate of $7.97 million. During the same period last year, the company earned ($0.28) earnings per share. The firm’s revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that Cancer Genetics will post ($0.86) earnings per share for the current fiscal year.

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In related news, Director John Pappajohn purchased 86,185 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was purchased at an average cost of $3.24 per share, for a total transaction of $279,239.40. Following the completion of the purchase, the director now directly owns 2,608,704 shares in the company, valued at $8,452,200.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.30% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Cancer Genetics by 61.9% in the second quarter. Vanguard Group Inc. now owns 516,785 shares of the medical research company’s stock valued at $2,041,000 after acquiring an additional 197,619 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Cancer Genetics by 44.8% in the 1st quarter. Renaissance Technologies LLC now owns 449,600 shares of the medical research company’s stock valued at $1,843,000 after acquiring an additional 139,200 shares during the period. Thompson Davis & CO. Inc. grew its position in shares of Cancer Genetics by 5,465.0% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 111,300 shares of the medical research company’s stock valued at $440,000 after acquiring an additional 109,300 shares during the period. Northern Trust Corp increased its stake in shares of Cancer Genetics by 61.0% during the 2nd quarter. Northern Trust Corp now owns 32,122 shares of the medical research company’s stock worth $127,000 after purchasing an additional 12,168 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Cancer Genetics during the 1st quarter worth about $120,000. Hedge funds and other institutional investors own 16.08% of the company’s stock.

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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