Equities analysts expect that Cancer Genetics, Inc. (NASDAQ:CGIX) will announce $7.96 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Cancer Genetics’ earnings. The lowest sales estimate is $7.60 million and the highest is $8.32 million. Cancer Genetics reported sales of $6.75 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.9%. The company is expected to announce its next earnings report on Thursday, November 9th.

According to Zacks, analysts expect that Cancer Genetics will report full-year sales of $7.96 million for the current financial year, with estimates ranging from $30.17 million to $31.79 million. For the next financial year, analysts forecast that the firm will post sales of $43.10 million per share, with estimates ranging from $37.70 million to $48.49 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Cancer Genetics.

Cancer Genetics (NASDAQ:CGIX) last released its earnings results on Monday, August 14th. The medical research company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.97 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The company’s revenue was down 5.7% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Cancer Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Dawson James assumed coverage on shares of Cancer Genetics in a research note on Tuesday, June 27th. They issued a “buy” rating on the stock. HC Wainwright set a $6.00 price target on shares of Cancer Genetics and gave the company a “buy” rating in a research note on Tuesday, August 15th. 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 price target on the stock. Finally, ValuEngine lowered shares of Cancer Genetics from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Cancer Genetics currently has an average rating of “Hold” and a consensus target price of $5.42.

In related news, Director John Pappajohn purchased 86,185 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $3.24 per share, with a total value of $279,239.40. Following the completion of the purchase, the director now owns 2,608,704 shares in the company, valued at approximately $8,452,200.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 21.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in CGIX. Vanguard Group Inc. lifted its position in shares of Cancer Genetics by 61.9% in the second quarter. Vanguard Group Inc. now owns 516,785 shares of the medical research company’s stock worth $2,041,000 after purchasing an additional 197,619 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Cancer Genetics by 44.8% in the first quarter. Renaissance Technologies LLC now owns 449,600 shares of the medical research company’s stock worth $1,843,000 after purchasing an additional 139,200 shares in the last quarter. Thompson Davis & CO. Inc. lifted its position in shares of Cancer Genetics by 5,465.0% in the second quarter. Thompson Davis & CO. Inc. now owns 111,300 shares of the medical research company’s stock worth $440,000 after purchasing an additional 109,300 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Cancer Genetics in the first quarter worth $102,000. Finally, Northern Trust Corp lifted its position in shares of Cancer Genetics by 61.0% in the second 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 in the last quarter. 16.08% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Cancer Genetics (NASDAQ CGIX) opened at 2.70 on Friday. Cancer Genetics has a 52-week low of $1.10 and a 52-week high of $5.30. The stock’s market cap is $53.43 million. The firm has a 50-day moving average of $2.93 and a 200-day moving average of $3.59.

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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