Cancer Genetics Inc. (CGIX) Stock Rating Lowered by Zacks Investment Research
Cancer Genetics Inc. (NASDAQ:CGIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Cancer Genetics, Inc. operates as a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. The company’s tests target cancers, including hematological, urogenital, and HPV-associated cancers. It also offers non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals as well as biopharma and biotech. Cancer Genetics, Inc. is headquartered in Rutherford, New Jersey. “
A number of other equities analysts have also recently issued reports on the company. HC Wainwright started coverage on Cancer Genetics in a report on Tuesday, September 27th. They issued a “buy” rating and a $6.00 target price on the stock. Rodman & Renshaw started coverage on Cancer Genetics in a report on Monday, September 26th. They issued a “buy” rating and a $6.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Cancer Genetics has a consensus rating of “Buy” and a consensus price target of $7.19.
Cancer Genetics (NASDAQ:CGIX) opened at 1.60 on Monday. Cancer Genetics has a 12-month low of $1.10 and a 12-month high of $3.48. The stock has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.91. The stock’s market capitalization is $30.22 million.
Cancer Genetics (NASDAQ:CGIX) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.05. Cancer Genetics had a negative return on equity of 63.26% and a negative net margin of 74.07%. The company had revenue of $6.80 million for the quarter, compared to analysts’ expectations of $6.93 million. During the same period last year, the firm earned ($0.56) EPS. The firm’s revenue for the quarter was up 70.0% on a year-over-year basis. Equities research analysts expect that Cancer Genetics will post ($1.17) EPS for the current year.
In other Cancer Genetics news, Director John Pappajohn purchased 100,000 shares of the stock in a transaction dated Monday, November 28th. The shares were acquired at an average price of $1.45 per share, for a total transaction of $145,000.00. Following the completion of the acquisition, the director now owns 2,420,709 shares of the company’s stock, valued at approximately $3,510,028.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 25.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fairbanks Capital Management Inc. increased its position in shares of Cancer Genetics by 0.9% in the third quarter. Fairbanks Capital Management Inc. now owns 235,170 shares of the company’s stock worth $411,000 after buying an additional 2,000 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $651,000 after buying an additional 10,328 shares in the last quarter. Eagle Global Advisors LLC increased its position 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 worth $168,000 after buying an additional 34,510 shares in the last quarter. Sabby Management LLC increased its position 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 worth $397,000 after buying an additional 118,280 shares in the last quarter. Finally, Anson Funds Management LP acquired a new position in shares of Cancer Genetics during the third quarter worth $476,000. Institutional investors and hedge funds own 12.19% of the company’s stock.
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.
Receive News & Stock Ratings for Cancer Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cancer Genetics Inc. and related stocks with our FREE daily email newsletter.