Biocept (BIOC) Sets New 52-Week Low at $3.07

Shares of Biocept Inc (NASDAQ:BIOC) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.07 and last traded at $3.32, with a volume of 2548 shares trading hands. The stock had previously closed at $3.38.

A number of analysts recently issued reports on the company. Zacks Investment Research lowered Biocept from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. ValuEngine upgraded Biocept from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Westpark Capital cut Biocept from an “outperform” rating to a “hold” rating in a research report on Wednesday, May 23rd.

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.41 and a quick ratio of 2.31. The stock has a market capitalization of $9.14 million, a P/E ratio of -0.14 and a beta of 1.75.

Biocept (NASDAQ:BIOC) last posted its earnings results on Tuesday, August 14th. The medical research company reported ($2.70) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.30) by $0.60. Biocept had a negative return on equity of 445.14% and a negative net margin of 561.47%. The business had revenue of $0.82 million during the quarter, compared to analysts’ expectations of $1.09 million. analysts forecast that Biocept Inc will post -9.01 EPS for the current fiscal year.

A hedge fund recently raised its stake in Biocept stock. BlackRock Inc. raised its holdings in shares of Biocept Inc (NASDAQ:BIOC) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 794,302 shares of the medical research company’s stock after buying an additional 14,403 shares during the quarter. BlackRock Inc. owned about 34.99% of Biocept worth $159,000 as of its most recent filing with the Securities & Exchange Commission.

About Biocept (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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