Cancer Genetics Inc (NASDAQ:CGIX) saw a large growth in short interest in January. As of January 31st, there was short interest totalling 2,546,941 shares, a growth of 65.1% from the January 15th total of 1,542,934 shares. Based on an average daily volume of 4,785,526 shares, the days-to-cover ratio is presently 0.5 days. Currently, 7.6% of the shares of the company are sold short.
Shares of CGIX stock opened at $0.26 on Thursday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $7.24 million, a P/E ratio of -0.33 and a beta of 1.18. Cancer Genetics has a one year low of $0.20 and a one year high of $2.20.
Cancer Genetics (NASDAQ:CGIX) last announced its quarterly earnings results on Monday, November 19th. The medical research company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.07). The company had revenue of $5.94 million during the quarter, compared to analyst estimates of $8.09 million. Cancer Genetics had a negative net margin of 87.08% and a negative return on equity of 121.10%. Research analysts expect that Cancer Genetics will post -0.58 earnings per share for the current fiscal year.
In related news, CEO John A. Roberts purchased 185,436 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The shares were acquired at an average price of $0.23 per share, with a total value of $42,650.28. Following the purchase, the chief executive officer now directly owns 297,636 shares in the company, valued at $68,456.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Glenn Miles purchased 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The stock was bought at an average cost of $0.23 per share, for a total transaction of $34,500.00. Following the purchase, the chief financial officer now owns 150,000 shares in the company, valued at $34,500. The disclosure for this purchase can be found here. Insiders have bought a total of 2,435,436 shares of company stock worth $560,150 in the last three months. 21.30% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in Cancer Genetics by 15.0% in the 3rd quarter. Renaissance Technologies LLC now owns 675,200 shares of the medical research company’s stock valued at $702,000 after buying an additional 87,900 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cancer Genetics by 106.6% in the 4th quarter. Geode Capital Management LLC now owns 221,803 shares of the medical research company’s stock valued at $53,000 after buying an additional 114,448 shares in the last quarter. Perkins Capital Management Inc. boosted its stake in Cancer Genetics by 28.1% in the 3rd quarter. Perkins Capital Management Inc. now owns 1,287,250 shares of the medical research company’s stock valued at $1,339,000 after buying an additional 282,700 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cancer Genetics by 119.8% in the 3rd quarter. Vanguard Group Inc. now owns 532,426 shares of the medical research company’s stock valued at $554,000 after buying an additional 290,146 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in Cancer Genetics by 119.8% in the 3rd quarter. Vanguard Group Inc now owns 532,426 shares of the medical research company’s stock valued at $554,000 after buying an additional 290,146 shares in the last quarter. 14.56% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. ValuEngine raised Cancer Genetics from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Maxim Group reaffirmed a “hold” rating on shares of Cancer Genetics in a research note on Tuesday, November 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Cancer Genetics has an average rating of “Hold” and an average price target of $4.50.
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Cancer Genetics Company Profile
Cancer Genetics, Inc develops, commercializes, and provides molecular and biomarker-based tests and services in the United States, Europe, and Asia. Its tests enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor, and inform cancer treatment; and enable biotech and pharmaceutical companies involved in oncology and immuno-oncology trials to select candidate populations and reduce adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.
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