Biocept (NASDAQ:BIOC) Trading Down 8.8%

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Shares of Biocept, Inc. (NASDAQ:BIOC) fell 8.8% during mid-day trading on Tuesday . The stock traded as low as $5.91 and last traded at $6.53. 611,336 shares were traded during trading, an increase of 2% from the average session volume of 600,041 shares. The stock had previously closed at $7.16.

Several research firms have recently issued reports on BIOC. Maxim Group began coverage on shares of Biocept in a research note on Friday, December 11th. They set a “buy” rating and a $20.00 target price on the stock. Zacks Investment Research lowered shares of Biocept from a “hold” rating to a “sell” rating in a research note on Monday, January 4th.

The firm’s 50 day moving average price is $6.26 and its 200-day moving average price is $5.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.52 and a current ratio of 2.85. The firm has a market capitalization of $87.48 million, a PE ratio of -1.62 and a beta of 0.86.

An institutional investor recently bought a new position in Biocept stock. Hussman Strategic Advisors Inc. purchased a new position in shares of Biocept, Inc. (NASDAQ:BIOC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 83,500 shares of the medical research company’s stock, valued at approximately $368,000. Hussman Strategic Advisors Inc. owned about 0.62% of Biocept as of its most recent SEC filing. Hedge funds and other institutional investors own 8.18% of the company’s stock.

Biocept Company Profile (NASDAQ:BIOC)

Biocept, Inc, an early stage molecular oncology diagnostics company, develops and commercializes proprietary circulating tumor cell 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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