Biocept (BIOC) Lowered to “Hold” at Zacks Investment Research

Biocept (NASDAQ:BIOC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, May 11th.

According to Zacks, “Biocept, Inc. is a commercial stage oncology diagnostics company. It has developed technology platforms for capture and analysis of circulating tumor cells and circulating tumor DNA utilizing a standard blood sample to provide physicians. The company offers OncoCEE-BR (TM) test for breast cancer. Biocept, Inc. is headquartered in San Diego, California. “

Several other equities research analysts have also recently weighed in on the company. ValuEngine raised Biocept from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Westpark Capital reissued an “outperform” rating and issued a $1.00 price objective on shares of Biocept in a research report on Wednesday, April 4th.

Shares of Biocept traded down $0.01, reaching $0.19, during trading hours on Friday, according to MarketBeat.com. The company’s stock had a trading volume of 1,642,092 shares, compared to its average volume of 1,078,053. Biocept has a 1-year low of $0.17 and a 1-year high of $1.85. The company has a market capitalization of $13.64 million, a price-to-earnings ratio of -0.24 and a beta of 1.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.41 and a quick ratio of 0.81.

Biocept (NASDAQ:BIOC) last announced its earnings results on Tuesday, May 15th. The medical research company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The company had revenue of $0.81 million for the quarter, compared to the consensus estimate of $1.21 million. Biocept had a negative return on equity of 445.14% and a negative net margin of 561.47%. equities research analysts expect that Biocept will post -0.28 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Biocept stock. Sabby Management LLC purchased a new position in shares of Biocept (NASDAQ:BIOC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 962,265 shares of the medical research company’s stock, valued at approximately $668,000. Sabby Management LLC owned about 1.51% of Biocept as of its most recent SEC filing. 10.15% of the stock is currently owned by institutional investors.

About Biocept

Biocept, Inc, an early stage molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA assays utilizing a standard blood sample. The company's cancer assays provide information to healthcare providers to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy at diagnosis, progression, and monitoring in order to identify resistance mechanisms.

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