Biocept Inc (NASDAQ:BIOC) was the recipient of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 823,156 shares, a drop of 34.1% from the April 15th total of 1,249,659 shares. Currently, 4.5% of the shares of the company are sold short. Based on an average daily volume of 734,933 shares, the days-to-cover ratio is presently 1.1 days.
A hedge fund recently bought a new stake in Biocept stock. Dimensional Fund Advisors LP acquired a new stake in shares of Biocept Inc (NASDAQ:BIOC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 & Exchange Commission. Institutional investors and hedge funds own 1.98% of the company’s stock.
BIOC has been the subject of several research reports. Zacks Investment Research raised Biocept from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research report on Wednesday, February 13th. ValuEngine cut Biocept from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $3.00 target price on shares of Biocept in a research report on Thursday, May 9th.
Biocept (NASDAQ:BIOC) last issued its earnings results on Wednesday, May 8th. The medical research company reported ($0.61) EPS for the quarter. The firm had revenue of $1.02 million during the quarter. Biocept had a negative return on equity of 338.61% and a negative net margin of 695.85%. As a group, sell-side analysts predict that Biocept will post -3.84 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This piece was published by WKRB News and is the sole property of of WKRB News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.wkrb13.com/2019/05/27/biocept-inc-bioc-short-interest-update.html.
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.
Further Reading: Understanding debt-to-equity ratio in fundamental analysis
Receive News & Ratings for Biocept Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biocept and related companies with MarketBeat.com's FREE daily email newsletter.