Biocept (NASDAQ:BIOC) Stock Price Down 4.9%

Biocept Inc (NASDAQ:BIOC) shares dropped 4.9% during mid-day trading on Friday . The company traded as low as $0.32 and last traded at $0.32, approximately 2,779,683 shares changed hands during trading. A decline of 79% from the average daily volume of 13,462,635 shares. The stock had previously closed at $0.34.

Separately, Maxim Group reissued a “buy” rating and set a $1.00 target price on shares of Biocept in a research report on Wednesday, January 8th.

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.71 and a current ratio of 1.83. The stock has a market cap of $16.03 million, a price-to-earnings ratio of -0.12 and a beta of 1.56. The business’s fifty day simple moving average is $0.31 and its 200 day simple moving average is $0.70.

Biocept (NASDAQ:BIOC) last announced its earnings results on Wednesday, November 13th. The medical research company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. The company had revenue of $1.53 million during the quarter. Biocept had a negative return on equity of 268.76% and a negative net margin of 552.54%.

An institutional investor recently raised its position in Biocept stock. Vanguard Group Inc. lifted its stake in shares of Biocept Inc (NASDAQ:BIOC) by 107.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,963 shares of the medical research company’s stock after buying an additional 80,756 shares during the quarter. Vanguard Group Inc. owned approximately 0.83% of Biocept worth $173,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 0.78% of the company’s stock.

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.

Further Reading: Price to Earnings Ratio (PE) Basics

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