The Vanguard Group, Inc. recently announced the acquisition of new stake in Biocept Inc. (NASDAQ:BIOC). The institutional investor has increased its shareholding in the Healthcare company by 1,224.40% to 6.39 million shares with purchase of 5.91 million shares. This fresh investment now brings its stake to 4.87% valued currently at $4.74 million. In addition, Renaissance Technologies LLC raised its holdings by 1.97 million to 3.8 million shares. And BlackRock Fund Advisors has lifted its position by 9,327.20% or 2.47 million shares – to 2.5 million shares.
With over 3.55 million Biocept Inc. (BIOC) shares trading Friday and a closing price of $0.67 on the day, the dollar volume was approximately $2.38 million. The shares have shown a negative weekly performance of -9.12% and its price on 08/28/20 lost nearly -0.37%. Currently, there are 127.17M common shares owned by the public and among those 124.91M shares have been available to trade.
Incidentally, analysts’ outlook for the Biocept Inc. stock is 2.00 for the next 12 months.
Insiders at the company have transacted a total of 3 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 3 occasions, with total insider shares sold totaling 1,160 shares.
The top 3 mutual fund holders in Biocept Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 4.18 million shares of the company’s stock, all valued at over $3.1 million. Vanguard Extended Market Index Fu sold -0.22 million shares to see its total holdings shrink to 1.98 million shares valued at over $1.47 million and representing 1.51% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.19% of the shares outstanding.
Shares of Biocept Inc. (NASDAQ: BIOC) opened at $0.6645, down -$0.01 from a prior closing price of $0.67. However, the script later closed the day at $0.67, down -0.37%. The company’s stock has a 5-day price change of -9.12% and 55.83% over the past three months. BIOC shares are trading 133.04% year to date (YTD), with the 12-month market performance down to -26.35% lower. It has a 12-month low price of $0.21 and touched a high of $1.30 over the same period. Currently, 3.55 million shares have been traded, compared to an average intraday trading volume of 28.78 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -22.63%, -14.15%, and 36.63% respectively.
Institutional ownership of Biocept Inc. (NASDAQ: BIOC) shares accounts for 17.00% of the company’s 127.17M shares outstanding. Mutual fund holders own 4.95%, while other institutional holders and individual stakeholders account for 5.51% and 0.02% respectively.
It has a market capitalization of $89.66M and a beta (3y monthly) value of 0.64. The earnings-per-share (ttm) stands at -$0.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.09% over the week and 12.41% over the month.
Analysts forecast that Biocept Inc. (BIOC) will achieve an EPS of -$0.05 for the current quarter, -$0.03 for the next quarter and -$0.14 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.05. Comparatively, EPS for the current quarter was -$0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 86.40%, and 30.00% over the next financial year. EPS should shrink at an annualized rate of 40.00% over the next five years, compared to 67.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Biocept Inc. (BIOC) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BIOC, a number of firms have released research notes about the stock. Chardan Capital Markets stated their Buy rating for the stock in a research note on November 14, 2017, with the firm’s price target at $2.50-$1.50. Chardan Capital Markets coverage for the Biocept Inc. (BIOC) stock in a research note released on June 02, 2017 offered a Buy rating with a price target of $2.50. ROTH Capital was of a view on June 06, 2016 that the stock is Buy, while H.C. Wainwright gave the stock Buy rating on August 19, 2015, issuing a price target of $4. Aegis Capital on their part issued Buy rating on June 03, 2014.