Biocept Inc (BIOC) Sees Large Growth in Short Interest

Biocept Inc (NASDAQ:BIOC) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,957,896 shares, an increase of 101.1% from the January 15th total of 973,539 shares. Approximately 49.5% of the company’s stock are short sold. Based on an average daily trading volume, of 6,952,855 shares, the days-to-cover ratio is currently 0.3 days.

Biocept stock opened at $1.04 on Thursday. The company has a market cap of $2.43 million, a PE ratio of -0.04 and a beta of 3.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.63 and a quick ratio of 2.50. Biocept has a 52 week low of $0.66 and a 52 week high of $12.30.

Biocept (NASDAQ:BIOC) last released its earnings results on Tuesday, November 13th. The medical research company reported ($2.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.71) by ($0.71). The business had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $1.02 million. Biocept had a negative net margin of 715.42% and a negative return on equity of 456.20%. As a group, analysts forecast that Biocept will post -9.17 earnings per share for the current year.

A hedge fund recently bought a new stake in Biocept stock. Dimensional Fund Advisors LP purchased a new stake in shares of Biocept Inc (NASDAQ:BIOC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,445 shares of the medical research company’s stock, valued at approximately $108,000. Dimensional Fund Advisors LP owned approximately 1.74% of Biocept at the end of the most recent quarter. Hedge funds and other institutional investors own 10.47% of the company’s stock.

BIOC has been the subject of several research analyst reports. Zacks Investment Research cut Biocept from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. ValuEngine cut Biocept from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th.

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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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