Biocept, Inc. (BIOC) Trading Up 6.8%

Shares of Biocept, Inc. (NASDAQ:BIOC) were up 6.8% during trading on Friday . The stock traded as high as $1.43 and last traded at $1.41. Approximately 581,902 shares changed hands during trading, an increase of 73% from the average daily volume of 336,567 shares. The stock had previously closed at $1.32.

Several analysts have commented on BIOC shares. ValuEngine upgraded Biocept from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Biocept from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a research note on Tuesday, May 16th. Finally, Westpark Capital reiterated an “outperform” rating on shares of Biocept in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $2.25.

The firm’s market cap is $42.66 million. The company’s 50 day moving average is $1.29 and its 200 day moving average is $1.61.

Biocept (NASDAQ:BIOC) last issued its quarterly earnings results on Thursday, August 10th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.01. The business had revenue of $1.28 million for the quarter, compared to analyst estimates of $1.23 million. Biocept had a negative return on equity of 550.35% and a negative net margin of 359.48%. Analysts anticipate that Biocept, Inc. will post ($0.79) earnings per share for the current year.

An institutional investor recently raised its position in Biocept stock. Creative Planning raised its holdings in shares of Biocept, Inc. (NASDAQ:BIOC) by 64,679.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246,811 shares of the medical research company’s stock after purchasing an additional 246,430 shares during the period. Creative Planning owned 0.93% of Biocept worth $338,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 6.92% of the company’s stock.

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Biocept Company Profile

Biocept, Inc is an early commercial-stage molecular oncology diagnostics company. The Company develops and commercializes circulating tumor cell (CTC) and circulating tumor deoxyribonucleic acid (ctDNA), assays utilizing a standard blood sample, or liquid biopsy. The Company’s Target-Selector offering is based on an internally developed, microfluidics-based CTC capture and analysis platform, with enabling features that change how CTC testing can be used by clinicians by providing biomarker detection and monitoring requiring only a standard blood sample.

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