SOPHiA GENETICS (NASDAQ:SOPH) Sees Strong Trading Volume – Here’s Why

SOPHiA GENETICS SA (NASDAQ:SOPH) shares saw an uptick in trading volume on Tuesday . 286,789 shares traded hands during mid-day trading, an increase of 16% from the previous session’s volume of 246,722 shares.The stock last traded at $8.3490 and had previously closed at $8.40.

Analyst Upgrades and Downgrades

SOPH has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of SOPHiA GENETICS in a research note on Friday, July 17th. Zacks Research upgraded SOPHiA GENETICS to a “hold” rating in a research note on Tuesday, July 21st. HC Wainwright raised their price target on SOPHiA GENETICS from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, BTIG Research boosted their price target on SOPHiA GENETICS from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.00.

SOPHiA GENETICS Stock Performance

The stock’s 50-day moving average price is $6.58 and its 200 day moving average price is $5.48. The company has a quick ratio of 2.55, a current ratio of 2.69 and a debt-to-equity ratio of 0.58. The company has a market cap of $694.19 million, a P/E ratio of -7.20 and a beta of 0.96.

SOPHiA GENETICS (NASDAQ:SOPH) last released its earnings results on Wednesday, August 5th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). SOPHiA GENETICS had a negative return on equity of 132.47% and a negative net margin of 93.86%.The firm had revenue of $23.31 million for the quarter, compared to analyst estimates of $21.72 million. As a group, research analysts expect that SOPHiA GENETICS SA will post -0.77 EPS for the current fiscal year.

Insider Transactions at SOPHiA GENETICS

In other news, CTO Abhimanyu Verma sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $8.80, for a total transaction of $44,000.00. Following the completion of the transaction, the chief technology officer directly owned 172,171 shares in the company, valued at $1,515,104.80. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathy L. Hibbs sold 6,250 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $8.68, for a total value of $54,250.00. Following the completion of the sale, the director directly owned 103,242 shares of the company’s stock, valued at $896,140.56. This represents a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 344,842 shares of company stock worth $2,199,315. Insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Perkins Capital Management Inc. acquired a new position in shares of SOPHiA GENETICS during the fourth quarter valued at about $49,000. Squarepoint Ops LLC bought a new position in SOPHiA GENETICS during the third quarter valued at about $49,000. First Dallas Securities Inc. acquired a new position in SOPHiA GENETICS in the 1st quarter valued at approximately $50,000. Quadrature Capital Ltd bought a new stake in shares of SOPHiA GENETICS in the 4th quarter worth approximately $54,000. Finally, XTX Topco Ltd bought a new stake in shares of SOPHiA GENETICS in the 4th quarter worth approximately $55,000. Institutional investors own 31.59% of the company’s stock.

About SOPHiA GENETICS

SOPHiA GENETICS SA is a data-driven medicine company founded in 2011 and headquartered in La Tène, Switzerland. The firm develops and operates a cloud-native software platform designed to standardize and analyze complex genomic and radiomic data. Its core offering, the SOPHiA DDM™ platform, leverages artificial intelligence and machine learning algorithms to help healthcare institutions, laboratories and biopharmaceutical partners derive actionable insights from next-generation sequencing and medical imaging datasets.

The SOPHiA DDM™ platform supports a range of clinical applications, including oncology, hereditary diseases and rare genetic disorders.