Look For Institutional Buying In Biocept Inc. (NASDAQ: BIOC)


    The Vanguard Group, Inc. has recently announced that it has increased stake in Biocept Inc. (NASDAQ:BIOC) by 1,224.40%. After grabbing 6.39 million shares, the institutional investor is now in possession of 5.91 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.87% having worth around $4.74 million. Moreover, Renaissance Technologies LLC increased its share by 1.97 million to have a control over 3.8 million shares. And BlackRock Fund Advisors raised its holdings to 2.47 million shares by acquiring 2.5 million shares or 1.90% of the stake.

    Biocept Inc. (BIOC) concluded trading on 08/26/20 at a closing price of $0.69, with 5.53 million shares of worth about $3.81 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -18.26% during that period and on Wednesday the price saw a loss of about -6.71%. Currently the company’s common shares owned by public are about 127.17M shares, out of which, 124.91M shares are available for trading.

    A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the BIOC stock and their offered price forecasts bring an average price target of $2.03. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $2.06 and could fall to a lowest price of $2.00. Analysts also issued an outlook of 2.00 for the Biocept Inc. stock for next 12 months. However, touching the estimated high of $2.06 would mean a gain of 66.5% for the stock.

    According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 3 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 3 selling transactions, insiders dumped 1,160 shares.

    Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Biocept Inc. Vanguard Total Stock Market Index is currently holding 4.18 million shares of worth totaling $3.1 million. The company recently came buying 0.0 shares which brought its stake up to 3.19% of the company’s outstanding shares. Vanguard Extended Market Index Fu sold -0.22 million shares, after which its hold over company’s outstanding shares shrunk to 1.51%, leaving 1.98 million shares with the mutual fund that have a worth of about $1.47 million. Fidelity Extended Market Index Fu, after buying 0.25 million shares, have now control over 0.19% of the stake in the company. It holds 0.0 shares of worth $0.19 million.

    Biocept Inc. (NASDAQ: BIOC) started trading at $0.736, below -$0.0 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $0.69, or with a loss of -6.71%. Stock saw a price change of -18.26% in past 5 days and over the past one month there was a price change of 0.43%. Year-to-date (YTD), BIOC shares are showing a performance of 142.66% which decreased to -23.02% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.21 but also hit the highest price of $1.30 during that period. While comparing its average daily trading volume of 29.78 million shares, we see that about 5.53 million changed hands on the day. The stock is currently trading -19.55% below its 20-day simple moving average (SMA20), while that difference is down -10.52% for SMA50 and it goes to 42.35% higher than SMA200.

    The Vanguard Group, Inc. acquired 6.39 million shares of Biocept Inc. having value of about $4.74 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 5.91 million shares in the company valued at close to $4075226.25, or have control over 1,224.40% stake in the company. Biocept Inc. (NASDAQ: BIOC) currently have 127.17M outstanding shares and institutions hold larger chunk of about 17.00% of that. Holding of mutual funds in the company is about 4.95% while other institutional holders and individual stake holders have control over 5.51% and 0.02% of the stake respectively.

    The stock has a current market capitalization of $97.14M and its 3Y-monthly beta is at 0.71. It has posted earnings per share of -$0.60 in the same period. It has Quick Ratio of 5.00 while making debt-to-equity ratio of 0.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BIOC, volatility over the week remained 12.94% while standing at 13.28% over the month.

    Analysts are in expectations that Biocept Inc. (BIOC) stock would likely to be making an EPS of -$0.05 in the current quarter, while forecast for next quarter ESPS is -$0.03 and it is -$0.14 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.05 which is -$0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 86.40% while it is estimated to increase by 30.00% in next year. EPS is likely to shrink at an annualized rate of 40.00% for next 5-years, compared to annual growth of 67.90% made by the stock over the past 5-years.

    Analysts at 2 brokerage firms have issued recommendations for the Biocept Inc. (BIOC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 2 Wall Street analysts, 2 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

    Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Chardan Capital Markets on November 14, 2017 offering a Buy rating for the stock and assigned a target price range of between $2.50 and $1.50 to it. Coverage by Chardan Capital Markets stated Biocept Inc. (BIOC) stock as a Buy in their note to investors on June 02, 2017, suggesting a price target of $2.50 for the stock. On June 06, 2016, ROTH Capital Initiated their recommendations, while on August 19, 2015, H.C. Wainwright Initiated their ratings for the stock with a price target of $4. Stock get a Buy rating from Aegis Capital on June 03, 2014.


    Please enter your comment!
    Please enter your name here