Cancer Genetics (CGIX) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Cancer Genetics (NASDAQ:CGIX) announced its earnings results on Tuesday, May 15th. The medical research company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $7.67 million during the quarter, compared to analysts’ expectations of $10.20 million. Cancer Genetics had a negative return on equity of 77.26% and a negative net margin of 52.87%.

Shares of NASDAQ CGIX traded up $0.09 during trading on Wednesday, hitting $1.05. The company had a trading volume of 19,700 shares, compared to its average volume of 217,725. The company has a market capitalization of $25.67 million, a P/E ratio of -1.33 and a beta of 1.28. Cancer Genetics has a 12 month low of $0.82 and a 12 month high of $4.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.03.

Several research analysts have issued reports on the company. Zacks Investment Research raised Cancer Genetics from a “sell” rating to a “hold” rating in a research report on Monday, May 14th. ValuEngine raised Cancer Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Dawson James downgraded Cancer Genetics from a “buy” rating to a “neutral” rating in a research note on Friday, April 6th. Maxim Group downgraded Cancer Genetics from a “buy” rating to a “hold” rating and set a $6.00 price objective on the stock. in a research note on Tuesday, April 3rd. Finally, HC Wainwright set a $6.00 price objective on Cancer Genetics and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.56.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC raised its stake in Cancer Genetics by 363.0% during the 4th quarter. Two Sigma Securities LLC now owns 67,677 shares of the medical research company’s stock valued at $125,000 after purchasing an additional 53,061 shares during the period. Stonepine Capital Management LLC bought a new stake in Cancer Genetics during the 4th quarter valued at approximately $3,304,000. Finally, Perkins Capital Management Inc. raised its stake in Cancer Genetics by 22.7% during the 4th quarter. Perkins Capital Management Inc. now owns 989,700 shares of the medical research company’s stock valued at $1,831,000 after purchasing an additional 183,000 shares during the period. 17.22% of the stock is currently owned by institutional investors.

About Cancer Genetics

Cancer Genetics, Inc develops, commercializes, and provides molecular and biomarker-based tests and services in the United States, India, and China. Its tests enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor, and inform cancer treatment; and enable biotech and pharmaceutical companies involved in oncology trials to select candidate populations and reduce adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics.

Earnings History for Cancer Genetics (NASDAQ:CGIX)

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