Biocept Inc (NASDAQ:BIOC) was the recipient of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,957,896 shares, a growth of 101.1% from the January 15th total of 973,539 shares. Approximately 49.5% of the shares of the company are sold short. Based on an average daily trading volume, of 6,952,855 shares, the short-interest ratio is currently 0.3 days.
A hedge fund recently bought a new stake in Biocept stock. Dimensional Fund Advisors LP purchased a new stake in shares of Biocept Inc (NASDAQ:BIOC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 39,445 shares of the medical research company’s stock, valued at approximately $108,000. Dimensional Fund Advisors LP owned 1.74% of Biocept as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 10.47% of the company’s stock.
Shares of BIOC opened at $1.04 on Thursday. The firm has a market cap of $2.43 million, a PE ratio of -0.04 and a beta of 3.09. The company has a current ratio of 2.63, a quick ratio of 2.50 and a debt-to-equity ratio of 0.11. Biocept has a one year low of $0.66 and a one year high of $12.30.
Biocept (NASDAQ:BIOC) last issued its quarterly earnings results on Tuesday, November 13th. The medical research company reported ($2.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.71) by ($0.71). The business had revenue of $0.76 million for the quarter, compared to analyst estimates of $1.02 million. Biocept had a negative net margin of 715.42% and a negative return on equity of 456.20%. Sell-side analysts anticipate that Biocept will post -9.17 EPS for the current year.
BIOC has been the topic of several analyst reports. Zacks Investment Research raised Biocept from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research report on Wednesday. ValuEngine raised Biocept from a “hold” rating to a “buy” rating in a report on Thursday, November 1st.
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Biocept, Inc, an early stage molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA assays utilizing a standard blood sample. The company's cancer assays provide information to healthcare providers to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy at diagnosis, progression, and monitoring in order to identify resistance mechanisms.
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