Biocept Inc. [BIOC] moved down -6.71: Why It’s Important

Biocept Inc. [NASDAQ: BIOC] loss -6.71% or -0.05 points to close at $0.69 with a heavy trading volume of 5527938 shares. The company report on August 24, 2020 that Biocept Names Michael Dugan, M.D. Chief Medical Officer and Medical Director.

Biocept, Inc. (Nasdaq: BIOC), a leading commercial provider of liquid biopsy tests designed to provide physicians with clinically actionable information to improve the outcomes of patients, announces the appointment of Michael C. Dugan, M.D. as Chief Medical Officer and Medical Director. Dr. Dugan has served in leading medical positions at Exact Sciences, Quest Diagnostics, Nichols Institute and Roche Molecular Systems. At Biocept he will be responsible for medical policy decision-making and the operations of the Company’s CLIA-certified, CAP-accredited, high-complexity molecular laboratory.

“Mike is highly respected in the molecular diagnostics industry, and we are thrilled to welcome him to our executive team,” said Michael Nall, Biocept’s President and CEO. “Mike is particularly known within our industry for his outstanding leadership capability and commercial vision. He has proven experience in developing clinical strategies and designing and overseeing studies that validate clinical utility. He brings established relationships with key thought-leaders in molecular diagnostics, has served as a senior clinical spokesperson at medical and scientific conferences, liaised with regulatory agencies and supervised CLIA lab operations. We expect to benefit significantly from his clinical and strategic insights as we grow by expanding our portfolio of clinically actionable assays and provide further evidence of their clinical validity and utility.”.

It opened the trading session at $0.736, the shares rose to $0.74 and dropped to $0.69, the range by which the price of stock traded the whole day. The daily chart for BIOC points out that the company has recorded 139.23% gains over the past six months. However, it is still -228.57% lower than its most recent low trading price.

If we look at the average trading volume of 29.78M shares, BIOC reached to a volume of 5527938 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 0.11, with the Price to Sales ratio for BIOC stock in the period of the last 12 months amounting to 17.04. The Price to Book ratio for the last quarter was 3.30, with the Price to Cash per share for the same quarter was set at 0.17.

Trading performance analysis for BIOC stock

Biocept Inc. [BIOC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.26. With this latest performance, BIOC shares gained by 0.43% in over the last four-week period, additionally plugging by 139.23% over the last 6 months – not to mention a drop of -23.02% 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 42.91, with the RSI for the last a single of trading hit 39.43, and the three-weeks RSI is set at 46.19 for Biocept Inc. [BIOC]. The present Moving Average for the last 50 days of trading for this stock 0.7759, while it was recorded at 0.7168 for the last single week of trading, and 0.4877 for the last 200 days.

Biocept Inc. [BIOC]: A deeper dive into fundamental analysis

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 5.00 and a Current Ratio set at 5.20.

Biocept Inc. [BIOC]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Biocept Inc. [BIOC]

There are presently around $10 million, or 17.00% 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 $2.63 million in BIOC stocks shares; and BLACKROCK INC., currently with $1.73 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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