SOPHiA GENETICS (NASDAQ:SOPH) Shares Gap Up – Here’s What Happened

SOPHiA GENETICS SA (NASDAQ:SOPH)’s share price gapped up prior to trading on Tuesday. The stock had previously closed at $7.49, but opened at $7.90. SOPHiA GENETICS shares last traded at $7.7150, with a volume of 347,987 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on SOPH. Zacks Research raised shares of SOPHiA GENETICS to a “hold” rating in a research note on Tuesday, July 21st. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of SOPHiA GENETICS in a research report on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SOPHiA GENETICS in a research report on Thursday, October 15th. Finally, BTIG Research lifted their price target on SOPHiA GENETICS from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

SOPHiA GENETICS Trading Up 4.1%

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.55. The company has a fifty day moving average of $7.69 and a 200-day moving average of $6.00. The firm has a market capitalization of $654.34 million, a PE ratio of -7.15 and a beta of 1.09.

SOPHiA GENETICS (NASDAQ:SOPH) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). SOPHiA GENETICS had a negative net margin of 89.18% and a negative return on equity of 128.69%. The firm had revenue of $24.27 million during the quarter, compared to analysts’ expectations of $24.03 million. On average, sell-side analysts anticipate that SOPHiA GENETICS SA will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at SOPHiA GENETICS

In other news, insider Philippe Menu sold 5,000 shares of the firm’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $7.26, for a total value of $36,300.00. Following the sale, the insider owned 195,993 shares in the company, valued at approximately $1,422,909.18. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Well Van sold 6,168 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $8.12, for a total transaction of $50,084.16. Following the completion of the sale, the insider owned 332,716 shares in the company, valued at $2,701,653.92. This represents a 1.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 162,162 shares of company stock worth $1,307,934 in the last quarter. 4.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On SOPHiA GENETICS

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in SOPHiA GENETICS by 3,130.2% during the first quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock worth $96,000 after purchasing an additional 18,781 shares during the period. AXQ Capital LP bought a new stake in shares of SOPHiA GENETICS in the 2nd quarter valued at approximately $119,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of SOPHiA GENETICS in the 2nd quarter valued at approximately $567,000. Maven Securities LTD acquired a new position in shares of SOPHiA GENETICS in the 2nd quarter worth approximately $866,000. Finally, Sowell Financial Services LLC acquired a new position in shares of SOPHiA GENETICS in the 3rd quarter worth approximately $2,865,000. 31.59% of the stock is owned by institutional investors.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS SA is a healthcare technology company that develops data-driven solutions for genomic medicine. Its cloud-based platform uses artificial intelligence, machine learning and advanced analytics to help healthcare organizations analyze and interpret complex biological and clinical data. The company’s primary offering, the SOPHiA DDM platform, supports next-generation sequencing workflows, including data management, quality control, genomic analysis, variant interpretation and reporting.