SOPHiA GENETICS (NASDAQ:SOPH) Shares Gap Up – Here’s Why

SOPHiA GENETICS SA (NASDAQ:SOPH) gapped up before the market opened on Tuesday. The stock had previously closed at $7.49, but opened at $7.90. SOPHiA GENETICS shares last traded at $7.7150, with a volume of 347,987 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on SOPH. BTIG Research lifted their target price on shares of SOPHiA GENETICS from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of SOPHiA GENETICS in a report on Thursday, October 15th. Zacks Research upgraded shares of SOPHiA GENETICS to a “hold” rating in a report on Tuesday, July 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of SOPHiA GENETICS in a research report on Monday, October 12th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SOPHiA GENETICS currently has an average rating of “Hold” and an average price target of $10.00.

SOPHiA GENETICS Stock Performance

The firm’s 50 day moving average price is $7.66 and its 200-day moving average price is $6.02. The firm has a market cap of $626.70 million, a price-to-earnings ratio of -6.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.16.

SOPHiA GENETICS (NASDAQ:SOPH) last released its earnings results on Tuesday, November 3rd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). SOPHiA GENETICS had a negative net margin of 89.18% and a negative return on equity of 128.69%. The company had revenue of $24.27 million for the quarter, compared to analyst estimates of $24.03 million. On average, analysts anticipate that SOPHiA GENETICS SA will post -0.94 earnings per share for the current year.

Insider Activity at SOPHiA GENETICS

In other news, CEO Ross Muken sold 9,838 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $8.13, for a total transaction of $79,982.94. Following the completion of the transaction, the chief executive officer owned 660,391 shares of the company’s stock, valued at approximately $5,368,978.83. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Philippe Menu sold 7,394 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $8.13, for a total transaction of $60,113.22. Following the transaction, the insider directly owned 200,993 shares of the company’s stock, valued at $1,634,073.09. This represents a 3.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 153,162 shares of company stock worth $1,240,254. Insiders own 4.88% of the company’s stock.

Hedge Funds Weigh In On SOPHiA GENETICS

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOPH. Royal Bank of Canada lifted its position in shares of SOPHiA GENETICS by 3,130.2% in the 1st quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock worth $96,000 after acquiring an additional 18,781 shares during the period. AXQ Capital LP bought a new stake in shares of SOPHiA GENETICS during the second quarter valued at approximately $119,000. State Street Corp bought a new stake in shares of SOPHiA GENETICS during the third quarter valued at approximately $387,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of SOPHiA GENETICS during the second quarter valued at approximately $567,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of SOPHiA GENETICS in the third quarter valued at $1,030,000. 31.59% of the stock is currently owned by institutional investors.

About SOPHiA GENETICS

SOPHiA GENETICS is a healthcare technology company that develops data-analysis tools for genomics and other complex health data. Its cloud-based SOPHiA DDM platform uses artificial intelligence and analytics to help healthcare and research organizations interpret data and support clinical and scientific decision-making. The platform and related applications are used in areas including oncology, rare diseases and inherited conditions. The company serves hospitals, laboratories, biopharmaceutical companies and research organizations, with a presence across international markets.