Cancer Genetics, Inc. (NASDAQ:CGIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, July 11th.

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. “

Several other brokerages also recently commented on CGIX. Dawson James assumed coverage on shares of Cancer Genetics in a report on Tuesday, June 27th. They issued a “buy” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Cancer Genetics in a report on Monday, March 27th. Finally, Benchmark Co. assumed coverage on shares of Cancer Genetics in a report on Monday, June 26th. They issued a “speculative buy” rating and a $6.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $5.56.

Cancer Genetics (NASDAQ:CGIX) traded up 1.39% during midday trading on Tuesday, reaching $3.65. 58,206 shares of the company’s stock were exchanged. The company’s market cap is $72.13 million. The firm has a 50-day moving average price of $3.86 and a 200 day moving average price of $3.35. Cancer Genetics has a 52 week low of $1.10 and a 52 week high of $5.30.

Cancer Genetics (NASDAQ:CGIX) last announced its earnings results on Thursday, May 11th. The medical research company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.07. The company had revenue of $7 million during the quarter, compared to the consensus estimate of $7.62 million. Cancer Genetics had a negative net margin of 72.03% and a negative return on equity of 48.69%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.39) earnings per share. Analysts anticipate that Cancer Genetics will post ($0.85) EPS for the current year.

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In related news, Director John Pappajohn purchased 100,000 shares of Cancer Genetics stock in a transaction that occurred on Monday, June 12th. The stock was bought at an average price of $3.75 per share, for a total transaction of $375,000.00. Following the completion of the transaction, the director now owns 2,542,519 shares in the company, valued at $9,534,446.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have purchased 103,437 shares of company stock valued at $388,076. 21.30% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of CGIX. KCG Holdings Inc. acquired a new position in shares of Cancer Genetics during the first quarter worth $102,000. Bank of Montreal Can acquired a new position in shares of Cancer Genetics during the first quarter worth $120,000. Renaissance Technologies LLC raised its position in shares of Cancer Genetics by 75.7% in the fourth quarter. Renaissance Technologies LLC now owns 310,400 shares of the medical research company’s stock worth $419,000 after buying an additional 133,700 shares in the last quarter. Finally, EAM Investors LLC acquired a new position in shares of Cancer Genetics during the first quarter worth $483,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Cancer Genetics Company Profile

Cancer Genetics, Inc is a United States-based company, which is engaged in the field of personalized medicine. The Company offers diagnostic products and services that enable precision medicine in the field of oncology through molecular markers and diagnostics. The Company offers a range of laboratory services that provide genomic and biomarker information.

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