Biocept Inc (BIOC) Short Interest Update

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.

Shares of BIOC stock opened at $1.24 on Monday. The firm has a market capitalization of $23.40 million, a P/E ratio of -0.14 and a beta of 2.80. Biocept has a one year low of $0.66 and a one year high of $12.15. 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 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.

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About Biocept

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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