HC Wainwright Reaffirms “Buy” Rating for Cancer Genetics, Inc. (CGIX)
HC Wainwright reissued their buy rating on shares of Cancer Genetics, Inc. (NASDAQ:CGIX) in a research report released on Thursday morning. The brokerage currently has a $6.00 price objective on the medical research company’s stock.
A number of other brokerages have also recently issued reports on CGIX. Zacks Investment Research cut 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 for the company. 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 objective for the company. Finally, ValuEngine cut shares of Cancer Genetics from a hold rating to a sell rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have issued 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 an average target price of $5.56.
Shares of Cancer Genetics (NASDAQ:CGIX) opened at 2.80 on Thursday. The company’s market cap is $55.41 million. The company’s 50 day moving average is $3.40 and its 200-day moving average is $3.63. Cancer Genetics has a 12 month low of $1.10 and a 12 month high of $5.30.
Cancer Genetics (NASDAQ:CGIX) last announced its quarterly earnings data on Monday, August 14th. The medical research company reported ($0.16) earnings per share (EPS) for the quarter, meeting 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 analysts’ expectations of $7.97 million. During the same quarter in the prior year, the company posted ($0.28) EPS. The business’s revenue was down 5.7% on a year-over-year basis. Analysts expect that Cancer Genetics will post ($0.86) EPS for the current fiscal year.
In other news, Director John Pappajohn bought 86,185 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $3.24 per share, for a total transaction of $279,239.40. Following the transaction, the director now directly owns 2,608,704 shares of the company’s stock, valued at approximately $8,452,200.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 21.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in CGIX. Bank of Montreal Can acquired a new stake in shares of Cancer Genetics during the 1st quarter worth about $120,000. EAM Investors LLC acquired a new stake in shares of Cancer Genetics during the 1st quarter worth about $483,000. Renaissance Technologies LLC increased its position in shares of Cancer Genetics by 44.8% during the 1st 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. KCG Holdings Inc. acquired a new stake in shares of Cancer Genetics during the 1st quarter worth about $102,000. Finally, Thompson Davis & CO. Inc. increased its position in shares of Cancer Genetics by 5,465.0% during the 2nd 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. Institutional investors and hedge funds own 16.08% of the company’s stock.
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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