Biocept, Inc. (NASDAQ:BIOC) Short Interest Down 16.2% in May

Posted by on Jun 17th, 2022

Biocept, Inc. (NASDAQ:BIOC – Get Rating) was the recipient of a significant decline in short interest in May. As of May 31st, there was short interest totalling 243,600 shares, a decline of 16.2% from the May 15th total of 290,700 shares. Based on an average trading volume of 103,900 shares, the days-to-cover ratio is currently 2.3 days.

Shares of BIOC stock opened at $1.15 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.38 and a quick ratio of 3.15. The company has a market cap of $19.46 million, a price-to-earnings ratio of -2.56 and a beta of 0.66. The stock has a 50 day simple moving average of $1.56 and a 200-day simple moving average of $2.44. Biocept has a 1-year low of $1.11 and a 1-year high of $4.97.

Biocept (NASDAQ:BIOC – Get Rating) last announced its earnings results on Monday, May 23rd. The medical research company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). Biocept had a negative return on equity of 19.99% and a negative net margin of 11.26%. The business had revenue of $19.95 million for the quarter, compared to analyst estimates of $6.99 million. Analysts anticipate that Biocept will post -1.47 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIOC. Taylor & Morgan Wealth Management LLC purchased a new position in Biocept during the 4th quarter valued at about $43,000. Jane Street Group LLC purchased a new position in Biocept during the 3rd quarter valued at about $45,000. Goldman Sachs Group Inc. purchased a new position in Biocept during the 3rd quarter valued at about $76,000. PDT Partners LLC purchased a new position in Biocept during the 4th quarter valued at about $130,000. Finally, Bailard Inc. purchased a new position in Biocept during the 4th quarter valued at about $152,000. Institutional investors and hedge funds own 13.52% of the company’s stock.

A number of brokerages have commented on BIOC. TheStreet downgraded shares of Biocept from a “c-” rating to a “d” rating in a report on Wednesday, April 27th. StockNews.com began coverage on Biocept in a research report on Sunday, June 12th. They issued a “hold” rating on the stock. Finally, Maxim Group reduced their target price on Biocept to $5.00 in a research note on Thursday, May 26th.

About Biocept (Get Rating)

Biocept, Inc, a molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell and circulating cell-free tumor DNA and RNA assays utilizing a standard blood sample. Its 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 to identify resistance mechanisms.

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