Biocept, Inc. (NASDAQ:BIOC)’s share price fell 13.8% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.11 and last traded at $1.25, with a volume of 777,933 shares changing hands. The stock had previously closed at $1.45.

The medical research company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.01. The business had revenue of $1.28 million for the quarter, compared to the consensus estimate of $1.23 million. Biocept had a negative return on equity of 1,177.51% and a negative net margin of 383.29%.

A number of research firms recently weighed in on BIOC. Zacks Investment Research downgraded shares of Biocept from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. ValuEngine raised shares of Biocept from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Westpark Capital reissued an “outperform” rating on shares of Biocept in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $2.31.

Several large investors have recently bought and sold shares of BIOC. Vanguard Group Inc. increased its stake in Biocept by 9.6% in the second quarter. Vanguard Group Inc. now owns 764,351 shares of the medical research company’s stock worth $1,048,000 after buying an additional 66,746 shares during the period. Creative Planning increased its stake in shares of Biocept by 64,679.8% in the second quarter. Creative Planning now owns 246,811 shares of the medical research company’s stock valued at $338,000 after buying an additional 246,430 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of Biocept by 6,250.0% in the first quarter. Intellectus Partners LLC now owns 127,000 shares of the medical research company’s stock valued at $271,000 after buying an additional 125,000 shares during the last quarter. Finally, WealthTrust Axiom LLC purchased a new stake in shares of Biocept during the first quarter valued at approximately $298,000. 15.26% of the stock is owned by institutional investors and hedge funds.

The company’s 50 day moving average is $1.40 and its 200 day moving average is $1.68. The stock’s market capitalization is $33.25 million.

TRADEMARK VIOLATION NOTICE: This article was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.watchlistnews.com/biocept-inc-bioc-trading-down-13-8-after-earnings-miss/1475256.html.

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.

Receive News & Ratings for Biocept Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biocept Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.