Interpace Diagnostics Group Inc (NASDAQ:IDXG) shares fell 19.9% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $1.07 and last traded at $1.17. 1,465,776 shares traded hands during mid-day trading, an increase of 198% from the average session volume of 491,702 shares. The stock had previously closed at $1.46.

The business services provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.04). Interpace Diagnostics Group had a negative net margin of 71.14% and a negative return on equity of 34.58%. The business had revenue of $5.75 million during the quarter, compared to analysts’ expectations of $5.50 million.

Several equities analysts have issued reports on the stock. Maxim Group set a $4.00 price objective on shares of Interpace Diagnostics Group and gave the company a “buy” rating in a research note on Wednesday, November 7th. HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Interpace Diagnostics Group in a research note on Thursday, November 8th. Dawson James assumed coverage on shares of Interpace Diagnostics Group in a research note on Wednesday, October 17th. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Interpace Diagnostics Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $3.17.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new position in Interpace Diagnostics Group in the 3rd quarter valued at $194,000. Virtu Financial LLC acquired a new position in Interpace Diagnostics Group in the 3rd quarter valued at $172,000. Essex Investment Management Co. LLC acquired a new position in Interpace Diagnostics Group in the 3rd quarter valued at $465,000. Finally, Perkins Capital Management Inc. acquired a new position in Interpace Diagnostics Group in the 3rd quarter valued at $983,000. 15.55% of the stock is currently owned by institutional investors.

The company has a market cap of $41.75 million, a PE ratio of -1.44 and a beta of 2.26.

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Interpace Diagnostics Group Company Profile (NASDAQ:IDXG)

Interpace Diagnostics Group, Inc develops and commercializes molecular diagnostic tests to detect genetic and other molecular alterations associated with gastrointestinal and endocrine cancers. It offers PancraGEN, a pancreatic cyst and pancreaticobiliary solid lesion molecular test that helps physicians better assess risk of pancreaticobiliary cancers using its proprietary PathFinder platform; ThyGenX, an oncogenic mutation panel that helps identify malignant thyroid nodules; and ThyraMIR, an microRNA gene expression assay that helps to classify risk of cancer in thyroid nodules.

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