Interpace Diagnostics Group (NASDAQ:IDXG) Stock Price Down 12.7%

Interpace Diagnostics Group Inc (NASDAQ:IDXG) shares dropped 12.7% on Thursday . The company traded as low as $0.68 and last traded at $0.69, approximately 575,800 shares changed hands during mid-day trading. An increase of 143% from the average daily volume of 237,333 shares. The stock had previously closed at $0.79.

IDXG has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $2.00 price target on shares of Interpace Diagnostics Group in a research note on Thursday. Oppenheimer initiated coverage on shares of Interpace Diagnostics Group in a research note on Thursday, September 26th. They issued an “outperform” rating and a $3.00 price target on the stock. Finally, Maxim Group set a $2.00 price target on shares of Interpace Diagnostics Group and gave the company a “buy” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $2.33.

The firm’s 50-day moving average is $0.79 and its 200 day moving average is $0.76. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $29.00 million, a price-to-earnings ratio of -1.60 and a beta of 2.34.

Interpace Diagnostics Group (NASDAQ:IDXG) last posted its earnings results on Wednesday, November 13th. The business services provider reported ($0.19) EPS for the quarter, hitting the consensus estimate of ($0.19). Interpace Diagnostics Group had a negative net margin of 65.86% and a negative return on equity of 42.91%. The business had revenue of $7.73 million for the quarter, compared to the consensus estimate of $10.00 million. Analysts predict that Interpace Diagnostics Group Inc will post -0.35 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Perkins Capital Management Inc. boosted its position in Interpace Diagnostics Group by 22.5% during the 3rd quarter. Perkins Capital Management Inc. now owns 2,360,385 shares of the business services provider’s stock worth $1,876,000 after buying an additional 433,135 shares during the period. River & Mercantile Asset Management LLP acquired a new stake in Interpace Diagnostics Group during the 2nd quarter worth approximately $468,000. Cambridge Investment Research Advisors Inc. boosted its position in Interpace Diagnostics Group by 98.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,750 shares of the business services provider’s stock worth $32,000 after buying an additional 22,150 shares during the period. Finally, Stonepine Capital Management LLC boosted its position in Interpace Diagnostics Group by 22.3% during the 2nd quarter. Stonepine Capital Management LLC now owns 1,753,184 shares of the business services provider’s stock worth $1,271,000 after buying an additional 319,154 shares during the period. Institutional investors and hedge funds own 20.11% of the company’s stock.

About Interpace Diagnostics Group (NASDAQ:IDXG)

Interpace Diagnostics Group, Inc develops and commercializes molecular diagnostic tests to detect genetic and other molecular alterations associated with gastrointestinal and endocrine cancers. It offers PancraGEN, a pancreatic cyst and pancreaticobiliary solid lesion molecular test that helps physicians better assess risk of pancreaticobiliary cancers using its proprietary PathFinder platform; ThyGenX, an oncogenic mutation panel that helps identify malignant thyroid nodules; and ThyraMIR, an microRNA gene expression assay that helps to classify risk of cancer in thyroid nodules.

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