SOPHiA GENETICS (NASDAQ:SOPH) Hits New 12-Month High – Still a Buy?

Shares of SOPHiA GENETICS SA (NASDAQ:SOPH) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $6.65 and last traded at $6.37, with a volume of 1935 shares. The stock had previously closed at $6.33.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SOPH. HC Wainwright initiated coverage on SOPHiA GENETICS in a report on Monday. They issued a “buy” rating and a $12.00 price objective on the stock. BTIG Research reissued a “buy” rating and issued a $8.00 price target on shares of SOPHiA GENETICS in a research note on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SOPHiA GENETICS in a research report on Friday. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

SOPHiA GENETICS Trading Up 3.5%

The company has a 50 day moving average of $5.26 and a 200-day moving average of $5.03. The stock has a market cap of $549.48 million, a price-to-earnings ratio of -12.54 and a beta of 0.96. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.90 and a current ratio of 2.06.

SOPHiA GENETICS (NASDAQ:SOPH) last released its earnings results on Tuesday, May 5th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). SOPHiA GENETICS had a negative return on equity of 62.74% and a negative net margin of 44.48%.The business had revenue of $21.69 million for the quarter, compared to analyst estimates of $20.40 million.

Insiders Place Their Bets

In other news, insider Zhenyu Xu sold 7,393 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.17, for a total transaction of $38,221.81. Following the transaction, the insider directly owned 614,887 shares in the company, valued at approximately $3,178,965.79. This trade represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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. Also, CTO Abhimanyu Verma sold 5,285 shares of SOPHiA GENETICS stock in a transaction on Monday, July 6th. The shares were sold at an average price of $5.10, for a total transaction of $26,953.50. Following the completion of the transaction, the chief technology officer directly owned 192,171 shares in the company, valued at $980,072.10. The trade was a 2.68% 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. In the last three months, insiders sold 176,711 shares of company stock valued at $959,913. 4.88% of the stock is owned by insiders.

Institutional Investors Weigh In On SOPHiA GENETICS

A number of institutional investors and hedge funds have recently made changes to their positions in SOPH. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of SOPHiA GENETICS by 246.9% during the first 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 buying an additional 5,432,871 shares during the last quarter. Akre Capital Management LLC raised its stake 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 acquiring an additional 1,481,636 shares during the last quarter. Hodges Capital Management Inc. acquired a new stake in SOPHiA GENETICS during the 1st quarter worth approximately $2,157,000. Royce & Associates LP purchased a new position in shares of SOPHiA GENETICS in the 4th quarter valued at approximately $2,009,000. Finally, Sei Investments Co. acquired a new position in shares of SOPHiA GENETICS in the first quarter valued at approximately $1,772,000. 31.59% of the stock is owned by hedge funds and other institutional investors.

About SOPHiA GENETICS

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.