Short Interest in Biocept Inc (BIOC) Rises By 71.2%

Biocept Inc (NASDAQ:BIOC) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 863,632 shares, an increase of 71.2% from the February 28th total of 504,596 shares. Based on an average daily trading volume, of 2,868,031 shares, the short-interest ratio is presently 0.3 days. Approximately 7.5% of the company’s stock are sold short.

BIOC stock remained flat at $$1.02 during trading on Friday. The company had a trading volume of 667,576 shares, compared to its average volume of 2,722,119. Biocept has a fifty-two week low of $0.66 and a fifty-two week high of $12.15. The firm has a market capitalization of $19.24 million, a P/E ratio of -0.11 and a beta of 2.93. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 0.32.

Biocept (NASDAQ:BIOC) last released its earnings results on Thursday, March 28th. The medical research company reported ($1.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.50) by $0.07. Biocept had a negative return on equity of 427.45% and a negative net margin of 755.80%. The business had revenue of $0.86 million for the quarter, compared to the consensus estimate of $0.95 million. Research analysts predict that Biocept will post -3.84 EPS for the current fiscal year.

An institutional investor recently bought a new position in Biocept stock. Dimensional Fund Advisors LP acquired a new stake in shares of Biocept Inc (NASDAQ:BIOC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 39,445 shares of the medical research company’s stock, valued at approximately $108,000. Dimensional Fund Advisors LP owned approximately 1.74% of Biocept at the end of the most recent quarter. 1.77% of the stock is owned by institutional investors.

Several brokerages have recently commented on BIOC. Maxim Group began coverage on Biocept in a research report on Tuesday, March 26th. They issued a “buy” rating for the company. ValuEngine upgraded Biocept from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, Zacks Investment Research upgraded Biocept from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Wednesday, February 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $1.25.

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Biocept Company Profile

Biocept, Inc, an early stage molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell (CTC) and circulating tumor DNA assays utilizing a standard blood sample. The company's cancer assays provide information to healthcare providers to identify oncogenic alterations that qualify a subset of cancer patients for targeted therapy at diagnosis, progression, and monitoring in order to identify resistance mechanisms.

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