Cancer Genetics Inc. (CGIX) Now Covered by Rodman & Renshaw
Equities research analysts at Rodman & Renshaw assumed coverage on shares of Cancer Genetics Inc. (NASDAQ:CGIX) in a report issued on Monday. The brokerage set a “buy” rating and a $6.00 price target on the stock. Rodman & Renshaw’s price objective would indicate a potential upside of 231.49% from the stock’s previous close.
Separately, Zacks Investment Research upgraded shares of Cancer Genetics from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Cancer Genetics presently has an average rating of “Buy” and a consensus price target of $7.31.
Cancer Genetics (NASDAQ:CGIX) opened at 1.81 on Monday. The stock’s market cap is $29.18 million. Cancer Genetics has a 52 week low of $1.72 and a 52 week high of $8.51. The company’s 50 day moving average is $2.06 and its 200 day moving average is $2.26.
Cancer Genetics (NASDAQ:CGIX) last issued its earnings results on Wednesday, August 10th. The company reported ($0.28) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.05. Cancer Genetics had a negative net margin of 89.60% and a negative return on equity of 72.29%. The company had revenue of $7 million for the quarter, compared to the consensus estimate of $6.50 million. During the same quarter in the previous year, the company earned ($0.51) EPS. The firm’s revenue for the quarter was up 67.3% compared to the same quarter last year. Equities analysts predict that Cancer Genetics will post ($1.17) earnings per share for the current year.
In other news, Director John Pappajohn acquired 147,500 shares of the company’s stock in a transaction on Monday, August 15th. The stock was purchased at an average cost of $2.16 per share, with a total value of $318,600.00. Following the acquisition, the director now owns 2,162,387 shares of the company’s stock, valued at approximately $4,670,755.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 25.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CGIX. Sabby Management LLC boosted its stake in shares of Cancer Genetics by 145.5% in the second quarter. Sabby Management LLC now owns 199,580 shares of the company’s stock valued at $397,000 after buying an additional 118,280 shares in the last quarter. Eagle Global Advisors LLC boosted its stake in shares of Cancer Genetics by 69.3% in the second quarter. Eagle Global Advisors LLC now owns 84,320 shares of the company’s stock valued at $168,000 after buying an additional 34,510 shares in the last quarter. Fairbanks Capital Management Inc. purchased a new stake in shares of Cancer Genetics during the second quarter valued at $464,000. Vanguard Group Inc. boosted its stake in shares of Cancer Genetics by 3.3% in the second quarter. Vanguard Group Inc. now owns 326,966 shares of the company’s stock valued at $651,000 after buying an additional 10,328 shares in the last quarter. Finally, Perkins Capital Management Inc. boosted its stake in shares of Cancer Genetics by 214.2% in the second quarter. Perkins Capital Management Inc. now owns 581,200 shares of the company’s stock valued at $1,157,000 after buying an additional 396,250 shares in the last quarter. 9.65% of the stock is owned by hedge funds and other institutional investors.
Cancer Genetics Company Profile
Cancer Genetics, Inc is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.
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