Cancer Genetics, Inc. (NASDAQ:CGIX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Cancer Genetics, Inc. (NASDAQ:CGIX) from a buy rating to a hold rating in a research note published on Tuesday, July 18th.

According to Zacks, “Cancer Genetics, Inc. operates as a diagnostics company focused on developing and commercializing proprietary genomic tests and services to improve the diagnosis, prognosis and response to treatment of cancer. The company’s tests target cancers, including hematological, urogenital, and HPV-associated cancers. It also offers non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals as well as biopharma and biotech. Cancer Genetics, Inc. is headquartered in Rutherford, New Jersey. “

CGIX has been the subject of several other reports. Dawson James started coverage on shares of Cancer Genetics in a research report on Tuesday, June 27th. They set a buy rating for the company. Benchmark Co. started coverage on shares of Cancer Genetics in a research report on Monday, June 26th. They set a speculative buy rating and a $6.00 price target for the company. Finally, HC Wainwright reissued a buy rating and set a $6.00 price target on shares of Cancer Genetics in a research report on Monday, March 27th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $5.56.

Shares of Cancer Genetics (NASDAQ CGIX) traded up 1.39% during mid-day trading on Tuesday, reaching $3.65. 154,699 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $3.82 and a 200 day moving average price of $3.42. Cancer Genetics has a 52-week low of $1.10 and a 52-week high of $5.30. The firm’s market cap is $72.13 million.

Cancer Genetics (NASDAQ:CGIX) last released its quarterly earnings results on Thursday, May 11th. The medical research company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.07. The business had revenue of $7 million during the quarter, compared to analyst estimates of $7.62 million. Cancer Genetics had a negative net margin of 72.03% and a negative return on equity of 48.69%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. Analysts forecast that Cancer Genetics will post ($0.85) earnings per share for the current fiscal year.

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In other Cancer Genetics news, Director John Pappajohn purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were bought at an average price of $3.75 per share, for a total transaction of $375,000.00. Following the acquisition, the director now owns 2,542,519 shares in the company, valued at $9,534,446.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 103,437 shares of company stock worth $388,076. 21.30% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. KCG Holdings Inc. purchased a new stake in shares of Cancer Genetics during the first quarter worth approximately $102,000. Bank of Montreal Can acquired a new position in shares of Cancer Genetics during the first quarter worth about $120,000. Northern Trust Corp raised its position in shares of Cancer Genetics by 61.0% in the second quarter. Northern Trust Corp now owns 32,122 shares of the medical research company’s stock worth $127,000 after buying an additional 12,168 shares during the period. Thompson Davis & CO. Inc. raised its position in shares of Cancer Genetics by 5,465.0% in the second quarter. Thompson Davis & CO. Inc. now owns 111,300 shares of the medical research company’s stock worth $440,000 after buying an additional 109,300 shares during the period. Finally, EAM Investors LLC acquired a new position in shares of Cancer Genetics during the first quarter worth about $483,000. 12.90% of the stock is currently owned by institutional investors and hedge funds.

Cancer Genetics Company Profile

Cancer Genetics, Inc is a United States-based company, which is engaged in the field of personalized medicine. The Company offers diagnostic products and services that enable precision medicine in the field of oncology through molecular markers and diagnostics. The Company offers a range of laboratory services that provide genomic and biomarker information.

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