Cancer Genetics Inc. [CGIX] Revenue clocked in at $6.30 million, up 106.86% YTD: What’s Next?

Cancer Genetics Inc. [NASDAQ: CGIX] slipped around -0.82 points on Thursday, while shares priced at $5.73 at the close of the session, down -12.52%. The company report on February 17, 2021 that Cancer Genetics Announces Closing of $17.5 Million Common Stock Offering Priced At-the-Market under Nasdaq Rules.

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Cancer Genetics, Inc. (Nasdaq: CGIX), a leader in drug discovery and preclinical oncology and immuno-oncology services, announced the closing of its previously announced registered direct offering with several healthcare-focused institutional investors of 2,777,778 shares of its common stock at a purchase price of $6.30 per share, priced at-the-market under Nasdaq rules. The gross proceeds to the Company from the offering totaled approximately $17.5 million, before deducting placement agent fees and offering expenses.

H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

Cancer Genetics Inc. stock is now 106.86% up from its year-to-date (YTD) trading value. CGIX Stock saw the intraday high of $6.40 and lowest of $5.61 per share. The company’s 52-week high price is 17.50, which means current price is +106.12% above from all time high which was touched on 02/10/21.

Compared to the average trading volume of 2.09M shares, CGIX reached a trading volume of 1919543 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cancer Genetics Inc. [CGIX]?

Maxim Group have made an estimate for Cancer Genetics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 07, 2017. The new note on the price target was released on June 27, 2017, representing the official price target for Cancer Genetics Inc. stock. Previously, the target price had yet another raise to $6, while The Benchmark Company analysts kept a Speculative Buy rating on CGIX stock.

The Average True Range (ATR) for Cancer Genetics Inc. is set at 1.30, with the Price to Sales ratio for CGIX stock in the period of the last 12 months amounting to 3.90. The Price to Book ratio for the last quarter was 2.78, with the Price to Cash per share for the same quarter was set at 0.26.

How has CGIX stock performed recently?

Cancer Genetics Inc. [CGIX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -33.37. With this latest performance, CGIX shares gained by 71.04% in over the last four-week period, additionally plugging by 88.49% over the last 6 months – not to mention a rise of 35.78% 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 CGIX stock in for the last two-week period is set at 54.50, with the RSI for the last a single of trading hit 51.87, and the three-weeks RSI is set at 55.55 for Cancer Genetics Inc. [CGIX]. The present Moving Average for the last 50 days of trading for this stock 3.80, while it was recorded at 6.64 for the last single week of trading, and 3.50 for the last 200 days.

Cancer Genetics Inc. [CGIX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cancer Genetics Inc. [CGIX] shares currently have an operating margin of -37.14 and a Gross Margin at +49.34. Cancer Genetics Inc.’s Net Margin is presently recorded at -94.25.

Return on Total Capital for CGIX is now -18.71, given the latest momentum, and Return on Invested Capital for the company is -92.20. Return on Equity for this stock declined to -97.06, with Return on Assets sitting at -27.37. When it comes to the capital structure of this company, Cancer Genetics Inc. [CGIX] has a Total Debt to Total Equity ratio set at 33.49. Additionally, CGIX Total Debt to Total Capital is recorded at 25.09, with Total Debt to Total Assets ending up at 16.59. Long-Term Debt to Equity for the company is recorded at 5.00, with the Long-Term Debt to Total Capital now at 3.74.

Reflecting on the efficiency of the workforce at the company, Cancer Genetics Inc. [CGIX] managed to generate an average of -$62,591 per employee. Receivables Turnover for the company is 1.89 with a Total Asset Turnover recorded at a value of 0.29.Cancer Genetics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.

Earnings analysis for Cancer Genetics Inc. [CGIX]

With the latest financial reports released by the company, Cancer Genetics Inc. posted -4.8/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3,592.30%. 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 CGIX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cancer Genetics Inc. go to 40.00%.

Insider trade positions for Cancer Genetics Inc. [CGIX]

There are presently around $2 million, or 18.60% of CGIX stock, in the hands of institutional investors. The top three institutional holders of CGIX stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 242,801, which is approximately 25.543% of the company’s market cap and around 7.49% of the total institutional ownership; ACADIAN ASSET MANAGEMENT LLC, holding 47,067 shares of the stock with an approximate value of $0.27 million in CGIX stocks shares; and BLACKROCK INC., currently with $0.21 million in CGIX stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Cancer Genetics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 6 institutional holders increased their position in Cancer Genetics Inc. [NASDAQ:CGIX] by around 105,030 shares. Additionally, 4 investors decreased positions by around 1,039 shares, while 2 investors held positions by with 258,044 shares. The mentioned changes placed institutional holdings at 364,113 shares, according to the latest SEC report filing. CGIX stock had 2 new institutional investments in for a total of 20,001 shares, while 2 institutional investors sold positions of 1,002 shares during the same period.

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