Biocept (BIOC) Shares Down 7.2%

Biocept Inc (NASDAQ:BIOC) was down 7.2% during mid-day trading on Wednesday . The company traded as low as $1.20 and last traded at $1.28. Approximately 6,408,456 shares traded hands during trading, an increase of 59% from the average daily volume of 4,021,760 shares. The stock had previously closed at $1.38.

A number of equities research analysts have recently issued reports on BIOC shares. Maxim Group restated a “buy” rating and set a $3.00 price objective on shares of Biocept in a report on Thursday, May 9th. ValuEngine upgraded Biocept from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, Zacks Investment Research upgraded Biocept from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Wednesday, February 13th.

The firm has a market capitalization of $23.59 million, a PE ratio of -0.14 and a beta of 2.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.72 and a quick ratio of 2.63.

Biocept (NASDAQ:BIOC) last issued its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.61) earnings per share (EPS) for the quarter. Biocept had a negative return on equity of 338.61% and a negative net margin of 695.85%. The firm had revenue of $1.02 million for the quarter. On average, equities analysts forecast that Biocept Inc will post -3.84 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Biocept stock. Northern Trust Corp purchased a new stake in Biocept Inc (NASDAQ:BIOC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 21,739 shares of the medical research company’s stock, valued at approximately $25,000. Northern Trust Corp owned 0.12% of Biocept at the end of the most recent quarter. Hedge funds and other institutional investors own 2.34% of the company’s stock.

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Biocept Company Profile (NASDAQ:BIOC)

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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