Cancer Genetics Inc (CGIX) Sees Large Decrease in Short Interest

Cancer Genetics Inc (NASDAQ:CGIX) was the recipient of a large drop in short interest in the month of January. As of January 12th, there was short interest totalling 519,860 shares, a drop of 26.7% from the December 29th total of 708,949 shares. Based on an average daily volume of 155,028 shares, the short-interest ratio is presently 3.4 days. Approximately 2.3% of the company’s shares are sold short.

Cancer Genetics (NASDAQ:CGIX) opened at $2.05 on Monday. Cancer Genetics has a 12-month low of $1.75 and a 12-month high of $5.30. The stock has a market cap of $56.79, a PE ratio of -2.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.01 and a current ratio of 2.01.

Cancer Genetics (NASDAQ:CGIX) last issued its quarterly earnings results on Thursday, November 9th. The medical research company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Cancer Genetics had a negative net margin of 54.65% and a negative return on equity of 46.21%. equities analysts anticipate that Cancer Genetics will post -0.88 earnings per share for the current year.

In related news, Director John Pappajohn bought 150,000 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was purchased at an average cost of $1.86 per share, with a total value of $279,000.00. Following the transaction, the director now owns 2,781,204 shares in the company, valued at approximately $5,173,039.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 21.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CGIX. Northern Trust Corp lifted its position in Cancer Genetics by 61.0% during the 2nd quarter. Northern Trust Corp now owns 32,122 shares of the medical research company’s stock valued at $127,000 after acquiring an additional 12,168 shares during the period. Vanguard Group Inc. lifted its position in Cancer Genetics by 61.9% during the 2nd 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 period. Granahan Investment Management Inc. MA lifted its position in Cancer Genetics by 26.3% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 237,431 shares of the medical research company’s stock valued at $641,000 after acquiring an additional 49,371 shares during the period. Finally, Perkins Capital Management Inc. lifted its position in Cancer Genetics by 22.7% during the 4th quarter. Perkins Capital Management Inc. now owns 989,700 shares of the medical research company’s stock valued at $1,831,000 after acquiring an additional 183,000 shares during the period. 11.08% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Cancer Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. HC Wainwright set a $6.00 target price on shares of Cancer Genetics and gave the stock a “buy” rating in a research report on Wednesday, November 29th. ValuEngine cut shares of Cancer Genetics from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Finally, Maxim Group initiated coverage on shares of Cancer Genetics in a research report on Thursday, December 7th. They set a “buy” rating and a $6.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.56.

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About Cancer Genetics

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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