Biocept Inc (NASDAQ:BIOC) Short Interest Down 16.6% in June

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Biocept Inc (NASDAQ:BIOC) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totalling 764,500 shares, a drop of 16.6% from the May 30th total of 916,800 shares. Currently, 6.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,670,000 shares, the days-to-cover ratio is currently 0.2 days.

A hedge fund recently raised its stake in Biocept stock. Dimensional Fund Advisors LP increased its stake in shares of Biocept Inc (NASDAQ:BIOC) by 180.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,500 shares of the medical research company’s stock after purchasing an additional 71,055 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.86% of Biocept worth $95,000 as of its most recent filing with the Securities and Exchange Commission. 2.34% of the stock is owned by institutional investors and hedge funds.

BIOC has been the subject of a number of research analyst reports. Maxim Group restated a “buy” rating on shares of Ebix in a research report on Thursday, May 9th. ValuEngine upgraded China Southern Airlines from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th.

Biocept stock traded up $0.01 during midday trading on Friday, reaching $1.03. 480,967 shares of the company were exchanged, compared to its average volume of 877,998. The firm has a market capitalization of $19.43 million, a P/E ratio of -0.11 and a beta of 1.96. The company’s 50-day moving average is $1.10. Biocept has a 1 year low of $0.66 and a 1 year high of $12.15. The company has a quick ratio of 2.63, a current ratio of 2.72 and a debt-to-equity ratio of 0.10.

Biocept (NASDAQ:BIOC) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.61) EPS for the quarter. The company had revenue of $1.02 million for the quarter. Biocept had a negative return on equity of 338.61% and a negative net margin of 695.85%.

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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