SOPHiA GENETICS (NASDAQ:SOPH) Reaches New 52-Week High – Here’s Why

SOPHiA GENETICS SA (NASDAQ:SOPH) shares hit a new 52-week high on Wednesday . The company traded as high as $8.01 and last traded at $7.9950, with a volume of 198496 shares changing hands. The stock had previously closed at $7.62.

Wall Street Analyst Weigh In

A number of brokerages have commented on SOPH. Zacks Research upgraded shares of SOPHiA GENETICS to a “hold” rating in a research note on Tuesday, July 21st. HC Wainwright lifted their price target on shares of SOPHiA GENETICS from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. BTIG Research boosted their price target on SOPHiA GENETICS from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SOPHiA GENETICS in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.00.

SOPHiA GENETICS Trading Up 0.6%

The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $6.11 and its two-hundred day moving average is $5.30. The company has a market capitalization of $698.80 million, a PE ratio of -7.24 and a beta of 0.96.

SOPHiA GENETICS (NASDAQ:SOPH) last posted its earnings results on Wednesday, August 5th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). SOPHiA GENETICS had a negative net margin of 93.86% and a negative return on equity of 132.47%. The business had revenue of $23.31 million for the quarter, compared to analysts’ expectations of $21.72 million. As a group, sell-side analysts predict that SOPHiA GENETICS SA will post -0.77 EPS for the current fiscal year.

Insider Activity

In related news, insider Zhenyu Xu sold 17,000 shares of SOPHiA GENETICS stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $7.29, for a total transaction of $123,930.00. Following the transaction, the insider directly owned 590,887 shares of the company’s stock, valued at $4,307,566.23. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ross Muken sold 9,838 shares of SOPHiA GENETICS stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.22, for a total transaction of $51,354.36. Following the transaction, the chief executive officer directly owned 670,651 shares in the company, valued at approximately $3,500,798.22. The trade was a 1.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders have sold 318,592 shares of company stock worth $1,952,315. Corporate insiders own 4.88% of the company’s stock.

Hedge Funds Weigh In On SOPHiA GENETICS

A number of large investors have recently made changes to their positions in SOPH. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of SOPHiA GENETICS by 246.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,632,871 shares of the company’s stock worth $25,341,000 after purchasing an additional 5,432,871 shares in the last quarter. Federated Hermes Inc. grew its stake in SOPHiA GENETICS by 16.4% during the 2nd quarter. Federated Hermes Inc. now owns 220,000 shares of the company’s stock worth $682,000 after buying an additional 31,000 shares during the last quarter. Akre Capital Management LLC increased its position in SOPHiA GENETICS by 66.2% during the 2nd quarter. Akre Capital Management LLC now owns 3,719,140 shares of the company’s stock valued at $11,529,000 after buying an additional 1,481,636 shares in the last quarter. Dimensional Fund Advisors LP increased its position in SOPHiA GENETICS by 24.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 31,332 shares of the company’s stock valued at $148,000 after buying an additional 6,205 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in SOPHiA GENETICS in the third quarter valued at about $49,000. 31.59% of the stock is owned by institutional investors and hedge funds.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS SA is a data-driven medicine company founded in 2011 and headquartered in La Tène, Switzerland. The firm develops and operates a cloud-native software platform designed to standardize and analyze complex genomic and radiomic data. Its core offering, the SOPHiA DDM™ platform, leverages artificial intelligence and machine learning algorithms to help healthcare institutions, laboratories and biopharmaceutical partners derive actionable insights from next-generation sequencing and medical imaging datasets.

The SOPHiA DDM™ platform supports a range of clinical applications, including oncology, hereditary diseases and rare genetic disorders.