Biocept Inc. (NASDAQ:BIOC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $1.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 9.28% from the stock’s previous close.
According to Zacks, “Biocept, Inc. is a commercial stage oncology diagnostics company. It has developed technology platforms for capture and analysis of circulating tumor cells and circulating tumor DNA utilizing a standard blood sample to provide physicians. The company offers OncoCEE-BR (TM) test for breast cancer. Biocept, Inc. is headquartered in San Diego, California. “
A number of other equities analysts have also weighed in on BIOC. Rodman & Renshaw set a $2.50 price objective on shares of Biocept and gave the company a “buy” rating in a research report on Wednesday, August 31st. Feltl & Co. lowered shares of Biocept from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Biocept currently has a consensus rating of “Buy” and an average target price of $2.18.
Biocept (NASDAQ:BIOC) opened at 0.9151 on Thursday. Biocept has a 52-week low of $0.82 and a 52-week high of $7.59. The stock’s market cap is $7.68 million. The company’s 50 day moving average is $1.39 and its 200-day moving average is $2.01.
In related news, CFO Timothy Kennedy bought 36,363 shares of the stock in a transaction that occurred on Wednesday, October 19th. The stock was purchased at an average cost of $1.10 per share, for a total transaction of $39,999.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Claire Reiss bought 227,272 shares of the stock in a transaction that occurred on Wednesday, October 19th. The stock was bought at an average price of $1.10 per share, with a total value of $249,999.20. The disclosure for this purchase can be found here. 6.80% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Biocept stock. Vanguard Group Inc. increased its position in shares of Biocept Inc. (NASDAQ:BIOC) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 411,214 shares of the company’s stock after buying an additional 29,949 shares during the period. Vanguard Group Inc. owned about 1.65% of Biocept worth $273,000 as of its most recent SEC filing. 12.19% of the stock is owned by institutional investors.
Biocept, Inc is an early commercial-stage molecular oncology diagnostics company. The Company develops and commercializes circulating tumor cell (CTC) and circulating tumor deoxyribonucleic acid (ctDNA), assays utilizing a standard blood sample, or liquid biopsy. The Company’s Target-Selector offering is based on an internally developed, microfluidics-based CTC capture and analysis platform, with enabling features that change how CTC testing can be used by clinicians by providing biomarker detection and monitoring requiring only a standard blood sample.