Is Cancer Genetics Inc. (NASDAQ: CGIX) Back In The Buying Zone?

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Renaissance Technologies LLC recently announced the acquisition of new stake in Cancer Genetics Inc. (NASDAQ:CGIX). The institutional investor has increased its shareholding in the Healthcare company by 7.80% to 0.17 million shares with purchase of 12559.0 shares. This fresh investment now brings its stake to 7.67% valued currently at $0.51 million. In addition, Acadian Asset Management LLC raised its holdings by 3361.0 to 3361.0 shares.

With over 109.51 million Cancer Genetics Inc. (CGIX) shares trading Monday and a closing price of $6.25 on the day, the dollar volume was approximately $684.44 million. The shares have shown a positive weekly performance of 110.89% and its price on 08/24/20 gained nearly 115.52%. Currently, there are 2.15M common shares owned by the public and among those 2.04M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for CGIX have a consensus price objective of $90.00. The analysts have set the share’s price value over the next 12 months at a high of $90.00 and a low of $90.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Cancer Genetics Inc. stock is 3.00 for the next 12 months. But an upside of 93.06% will see the stock hit the forecast high price target while mean target price for the stock is $90.00.

Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

The top 3 mutual fund holders in Cancer Genetics Inc. are Vanguard Extended Market Index Fu, Fidelity Nasdaq Composite Index F, and Fidelity Extended Market Index Fu. Vanguard Extended Market Index Fu owns 10519.0 shares of the company’s stock, all valued at over $31136.0. Fidelity Extended Market Index Fu now owns shares totaling to 0.10% of the shares outstanding.

Shares of Cancer Genetics Inc. (NASDAQ: CGIX) opened at $7.47, up $4.57 from a prior closing price of $2.90. However, the script later closed the day at $6.25, up 115.52%. The company’s stock has a 5-day price change of 110.89% and 106.95% over the past three months. CGIX shares are trading 4.87% year to date (YTD), with the 12-month market performance up to 93.22% higher. It has a 12-month low price of $1.92 and touched a high of $9.50 over the same period. Currently, 109.51 million shares have been traded, compared to an average intraday trading volume of 66.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 109.31%, 103.42%, and 63.96% respectively.

Institutional ownership of Cancer Genetics Inc. (NASDAQ: CGIX) shares accounts for 11.00% of the company’s 2.15M shares outstanding. Mutual fund holders own 2.73%, while other institutional holders and individual stakeholders account for 9.31% and 0.82% respectively.

It has a market capitalization of $15.06M and a beta (3y monthly) value of 2.14. The earnings-per-share (ttm) stands at -$3.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 19.95% over the week and 8.79% over the month.

Analysts forecast that Cancer Genetics Inc. (CGIX) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2020. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$4.8 a year ago. EPS should shrink at an annualized rate of 40.00% over the next five years, compared to 41.70% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Cancer Genetics Inc. (CGIX) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the CGIX, a number of firms have released research notes about the stock. Maxim Group stated their Buy rating for the stock in a research note on December 07, 2017, with the firm’s price target at $6. Dawson James coverage for the Cancer Genetics Inc. (CGIX) stock in a research note released on June 27, 2017 offered a Buy rating with a price target of. The Benchmark Company was of a view on June 26, 2017 that the stock is Speculative Buy, while Rodman & Renshaw gave the stock Buy rating on September 26, 2016, issuing a price target of $6.

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