Biocept, Inc. (BIOC) Rating Increased to Sell at ValuEngine
Biocept, Inc. (NASDAQ:BIOC) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Monday.
Several other research firms have also issued reports on BIOC. Westpark Capital reissued an “outperform” rating on shares of Biocept in a research note on Thursday, August 3rd. Zacks Investment Research raised Biocept from a “sell” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $2.50.
Biocept (BIOC) traded down 2.38% during mid-day trading on Monday, hitting $1.23. The stock had a trading volume of 258,338 shares. The company’s market cap is $37.21 million. The firm’s 50-day moving average is $1.26 and its 200 day moving average is $1.44. Biocept has a 12 month low of $0.74 and a 12 month high of $3.39.
Biocept (NASDAQ:BIOC) last posted its quarterly earnings results on Thursday, August 10th. The medical research company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). Biocept had a negative return on equity of 550.35% and a negative net margin of 359.48%. The company had revenue of $1.28 million during the quarter, compared to the consensus estimate of $1.23 million. Equities analysts anticipate that Biocept will post ($0.79) EPS for the current fiscal year.
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An institutional investor recently raised its position in Biocept stock. Creative Planning boosted its holdings in shares of Biocept, Inc. (NASDAQ:BIOC) by 64,679.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 246,811 shares of the medical research company’s stock after buying an additional 246,430 shares during the period. Creative Planning owned approximately 0.93% of Biocept worth $338,000 as of its most recent SEC filing. 6.92% of the stock is owned by institutional investors and hedge funds.
Biocept Company Profile
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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