Biocept Inc. [BIOC] moved up 59.45: Why It’s Important

Biocept Inc. [NASDAQ: BIOC] gained 59.45% or 0.5 points to close at $1.34 with a heavy trading volume of 102647410 shares. The company report on September 8, 2023 at 8:00 AM that Biocept Signs CNSide™ Licensing Agreement with Plus Therapeutics.

Biocept, Inc. (Nasdaq: BIOC), a leading provider of molecular diagnostic assays, products, and services, announces the signing of a non-exclusive licensing agreement for CNSide™ with Plus Therapeutics, Inc. (Nasdaq: PSTV) (Plus), which expands the comprehensive laboratory services agreement between the two companies that was announced in June 2022. Plus is using CNSide in a clinical trial with their targeted radiotherapeutic to treat patients with carcinomas and/or melanomas with suspected leptomeningeal metastases (LM), which is cancer in the membranes that surround the brain and spinal cord. CNSide is Biocept’s proprietary cerebrospinal fluid (CSF)-based tumor cell capture and enumeration platform used in detecting, quantifying, and monitoring tumor status in LM.

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This new agreement allows for Plus to perform CNSide testing during its clinical trials and commercially, subject to regulatory approval. Biocept will provide expertise, including consulting on equipment and materials sourcing, as well as providing the necessary technology and training to perform CNSide. Plus will pay Biocept an upfront fee of $150,000 in stock, plus $6,000 per CSF tumor cell enumeration analysis performed in Biocept’s CLIA-certified and CAP-accredited laboratory prior to the completion of the technology transfer. Once the technology transfer is complete, Plus will pay Biocept $300,000 plus fees on a sliding scale starting at $2,800 for each CNSide test they perform. The license agreement also gives Plus the option to negotiate for third-party exclusivity with a $1,000,000 payment to Biocept.

It opened the trading session at $1.58, the shares rose to $1.85 and dropped to $1.22, the range by which the price of stock traded the whole day. The daily chart for BIOC points out that the company has recorded -89.89% loss over the past six months. However, it is still -67.5% lower than its most recent low trading price.

If we look at the average trading volume of 166.21K shares, BIOC reached to a volume of 102647410 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.

The Average True Range (ATR) for Biocept Inc. is set at 0.17, with the Price to Sales ratio for BIOC stock in the period of the last 12 months amounting to 1.57. The Price to Book ratio for the last quarter was 4.79, with the Price to Cash per share for the same quarter was set at 4.02.

Trading performance analysis for BIOC stock

Biocept Inc. [BIOC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 55.81. With this latest performance, BIOC shares gained by 12.61% in over the last four-week period, additionally sinking by -89.89% over the last 6 months – not to mention a drop of -95.25% 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 64.45, with the RSI for the last a single of trading hit 75.61, and the three-weeks RSI is set at 52.88 for Biocept Inc. [BIOC]. The present Moving Average for the last 50 days of trading for this stock 1.1372, while it was recorded at 0.9465 for the last single week of trading, and 9.2261 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 -123.69 and a Gross Margin at -9.99. Biocept Inc.’s Net Margin is presently recorded at -124.09.

Return on Total Capital for BIOC is now -89.94, given the latest momentum, and Return on Invested Capital for the company is -94.54. Return on Equity for this stock declined to -138.49, with Return on Assets sitting at -70.30. When it comes to the capital structure of this company, Biocept Inc. [BIOC] has a Total Debt to Total Equity ratio set at 136.67. Additionally, BIOC Total Debt to Total Capital is recorded at 57.75, with Total Debt to Total Assets ending up at 39.22. Long-Term Debt to Equity for the company is recorded at 117.10, with the Long-Term Debt to Total Capital now at 49.48.

Reflecting on the efficiency of the workforce at the company, Biocept Inc. [BIOC] managed to generate an average of -$617,058 per employee. Receivables Turnover for the company is 3.25 with a Total Asset Turnover recorded at a value of 0.57.Biocept Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.80.

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

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 Institutional ownership at Biocept Inc. [BIOC]

The top three institutional holders of BIOC stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in BIOC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in BIOC stock with ownership which is approximately 5.7381%.

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