SOPHiA GENETICS (NASDAQ:SOPH) Stock Breaks Above 50 Day Moving Average – Here’s Why

SOPHiA GENETICS SA (NASDAQ:SOPH)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $7.68 and traded as high as $7.91. SOPHiA GENETICS shares last traded at $7.86, with a volume of 918,997 shares changing hands.

Wall Street Analysts Forecast Growth

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

SOPHiA GENETICS Stock Up 5.2%

The company has a market cap of $659.38 million, a P/E ratio of -7.21 and a beta of 1.09. The firm’s 50 day moving average price is $7.65 and its two-hundred day moving average price is $6.04. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.16 and a current ratio of 2.29.

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

Insider Buying and Selling at SOPHiA GENETICS

In related news, insider Zhenyu Xu sold 4,000 shares of SOPHiA GENETICS stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $7.18, for a total value of $28,720.00. Following the completion of the sale, the insider owned 541,493 shares of the company’s stock, valued at approximately $3,887,919.74. This trade represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Jurgi Camblong sold 8,500 shares of SOPHiA GENETICS stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $7.26, for a total transaction of $61,710.00. Following the completion of the transaction, the chairman owned 3,387,150 shares of the company’s stock, valued at $24,590,709. This represents a 0.25% 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. Insiders sold a total of 153,162 shares of company stock valued at $1,240,254 in the last ninety days. 4.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in SOPHiA GENETICS by 3,130.2% in the first quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock valued at $96,000 after purchasing an additional 18,781 shares in the last quarter. AXQ Capital LP bought a new stake in SOPHiA GENETICS during the 2nd quarter valued at $119,000. State Street Corp bought a new position in shares of SOPHiA GENETICS during the third quarter valued at about $387,000. Hennion & Walsh Asset Management Inc. purchased a new stake in SOPHiA GENETICS in the 2nd quarter worth approximately $567,000. Finally, Maven Securities LTD purchased a new stake in SOPHiA GENETICS in the second quarter worth $866,000. 31.59% of the stock is currently owned by hedge funds and other institutional investors.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS is a healthcare technology company that develops data-analysis tools for genomics and other complex health data. Its cloud-based SOPHiA DDM platform uses artificial intelligence and analytics to help healthcare and research organizations interpret data and support clinical and scientific decision-making. The platform and related applications are used in areas including oncology, rare diseases and inherited conditions. The company serves hospitals, laboratories, biopharmaceutical companies and research organizations, with a presence across international markets.