Chardan Capital Markets slashes price target on Biocept Inc. [BIOC] – find out why.

Biocept Inc. [NASDAQ: BIOC] stock went on a downward path that fall over -7.06% on Monday, amounting to a one-week price decrease of less than -24.32%. The company report on August 13, 2020 that Biocept Announces Agreement with Healthcare Group to Provide COVID-19 Testing to Multi-State Locations.

Healthcare Group supports more than 50 skilled nursing facilities.

Biocept, Inc. (Nasdaq: BIOC), a leading commercial provider of molecular technologies designed to provide physicians with clinically actionable information to improve outcomes, announces it has entered into an agreement with a healthcare group to provide COVID-19 testing to skilled nursing facilities. The group operates and supports more than 50 facilities in multiple states, with most located in California, the state with one of the most stringent COVID-19 testing regulations in the U.S.

Over the last 12 months, BIOC stock dropped by -8.44%. The average equity rating for BIOC stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $123.04 million, with 131.10 million shares outstanding and 118.42 million shares in the current float. Compared to the average trading volume of 30.50M shares, BIOC stock reached a trading volume of 16073498 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Biocept Inc. [BIOC]:

Chardan Capital Markets have made an estimate for Biocept Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 14, 2017. While these analysts kept the previous recommendation, Chardan Capital Markets raised their target price to Buy. The new note on the price target was released on June 02, 2017, representing the official price target for Biocept Inc. stock. Previously, the target price had yet another raise to $1.20, while ROTH Capital analysts kept a Buy rating on BIOC stock.

The Average True Range (ATR) for Biocept Inc. is set at 0.12, with the Price to Sales ratio for BIOC stock in the period of the last 12 months amounting to 20.51. The Price to Book ratio for the last quarter was 2.90, with the Price to Cash per share for the same quarter was set at 0.15.

BIOC Stock Performance Analysis:

Biocept Inc. [BIOC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.32. With this latest performance, BIOC shares gained by 23.04% in over the last four-week period, additionally plugging by 149.07% over the last 6 months – not to mention a drop of -8.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BIOC stock in for the last two-week period is set at 47.57, with the RSI for the last a single of trading hit 45.50, and the three-weeks RSI is set at 52.31 for Biocept Inc. [BIOC]. The present Moving Average for the last 50 days of trading for this stock 0.7500, while it was recorded at 0.9548 for the last single week of trading, and 0.4854 for the last 200 days.

Insight into Biocept Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Biocept Inc. [BIOC] shares currently have an operating margin of -417.05 and a Gross Margin at -98.56. Biocept Inc.’s Net Margin is presently recorded at -454.69.

Return on Total Capital for BIOC is now -250.49, given the latest momentum, and Return on Invested Capital for the company is -310.32. Return on Equity for this stock declined to -352.98, with Return on Assets sitting at -189.84. When it comes to the capital structure of this company, Biocept Inc. [BIOC] has a Total Debt to Total Equity ratio set at 22.68. Additionally, BIOC Total Debt to Total Capital is recorded at 18.49, with Total Debt to Total Assets ending up at 14.32. Long-Term Debt to Equity for the company is recorded at 8.69, with the Long-Term Debt to Total Capital now at 7.08.

Reflecting on the efficiency of the workforce at the company, Biocept Inc. [BIOC] managed to generate an average of -$285,660 per employee. Receivables Turnover for the company is 2.17 with a Total Asset Turnover recorded at a value of 0.42.Biocept Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.20 and a Current Ratio set at 4.40.

BIOC Stock EPS

With the latest financial reports released by the company, Biocept Inc. posted -0.38/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BIOC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Biocept Inc. go to 40.00%.

Biocept Inc. [BIOC] Insider Position Details

There are presently around $12 million, or 9.00% of BIOC stock, in the hands of institutional investors. The top three institutional holders of BIOC stocks are: VANGUARD GROUP INC with ownership of 6,477,617, which is approximately 1242.881% of the company’s market cap and around 0.03% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 3,796,450 shares of the stock with an approximate value of $3.19 million in BIOC stocks shares; and BLACKROCK INC., currently with $2.1 million in BIOC stock with ownership of nearly 9327.202% of the company’s market capitalization.

Positions in Biocept Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 14 institutional holders increased their position in Biocept Inc. [NASDAQ:BIOC] by around 11,046,806 shares. Additionally, 7 investors decreased positions by around 443,627 shares, while 5 investors held positions by with 2,214,980 shares. The mentioned changes placed institutional holdings at 13,705,413 shares, according to the latest SEC report filing. BIOC stock had 7 new institutional investments in for a total of 126,191 shares, while 6 institutional investors sold positions of 368,797 shares during the same period.

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