Ally Bridge Lb Healthcare Master Fund Ltd

disclosed that they own 14.5% of Biocept Inc (NASDAQ:BIOC) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, August 17th. The investor owns 4,582,306 shares of the stock worth $5,430,033. The reporting parties listed on the disclosure included Ally Bridge LB Healthcare Master Fund Limited, Ally Bridge LB Management Limited, Fan Yu and Bin Li. The filing is available through Edgar at this link.

Ally Bridge Lb Healthcare Master Fund Ltd

provided the following explanation of their ownership:

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Several other hedge funds have also modified their holdings of BIOC. Creative Planning increased its stake in shares of Biocept by 64,679.8% in the second quarter. Creative Planning now owns 246,811 shares of the medical research company’s stock worth $338,000 after buying an additional 246,430 shares during the last quarter. WealthTrust Axiom LLC acquired a new stake in shares of Biocept during the first quarter worth about $298,000. Intellectus Partners LLC increased its stake in shares of Biocept by 6,250.0% in the first quarter. Intellectus Partners LLC now owns 127,000 shares of the medical research company’s stock worth $271,000 after buying an additional 125,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Biocept by 9.6% in the second quarter. Vanguard Group Inc. now owns 764,351 shares of the medical research company’s stock worth $1,048,000 after buying an additional 66,746 shares during the last quarter. 15.27% of the stock is owned by hedge funds and other institutional investors.

Shares of Biocept Inc (BIOC) traded up 1.27% during trading on Thursday, hitting $1.20. The stock had a trading volume of 319,724 shares. The stock’s 50-day moving average price is $1.39 and its 200-day moving average price is $1.67. Biocept Inc has a one year low of $0.74 and a one year high of $3.39. The company’s market cap is $32.13 million.

Biocept (NASDAQ:BIOC) last announced its quarterly earnings results on Thursday, August 10th. The medical research company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.01. The company had revenue of $1.28 million during the quarter, compared to the consensus estimate of $1.23 million. Biocept had a negative return on equity of 321.03% and a negative net margin of 263.37%. On average, equities research analysts forecast that Biocept Inc will post ($0.79) EPS for the current fiscal year.

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Several research firms have weighed in on BIOC. Zacks Investment Research raised Biocept from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research report on Monday, May 1st. ValuEngine raised Biocept from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Westpark Capital reaffirmed an “outperform” rating on shares of Biocept in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $2.31.

About Biocept

Biocept, Inc is an early commercial-stage molecular oncology diagnostics company. The Company develops and commercializes circulating tumor cell (CTC) and circulating tumor deoxyribonucleic acid (ctDNA), assays utilizing a standard blood sample, or liquid biopsy. The Company’s Target-Selector offering is based on an internally developed, microfluidics-based CTC capture and analysis platform, with enabling features that change how CTC testing can be used by clinicians by providing biomarker detection and monitoring requiring only a standard blood sample.

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