SOPHiA GENETICS (NASDAQ:SOPH) Sees Large Volume Increase - Here's Why

Key Points

• SOPHiA GENETICS shares saw a 16% jump in mid-day trading volume to 286,789 shares, while the stock slipped 1.5% to $8.35.
• Analyst sentiment is mixed: BTIG and HC Wainwright raised their price targets to $9 and $14, respectively, while the consensus rating remains Hold with an average target of $10.
• The company reported quarterly revenue of $23.31 million, ahead of estimates, but its adjusted loss of $0.26 per share was wider than expected; insiders have sold 344,842 shares worth about $2.2 million over the past 90 days.

SOPHiA GENETICS SA (NASDAQ:SOPH - Get Free Report) shares saw unusually-high trading volume on Tuesday . 286,789 shares changed 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BTIG Research upped their price target on shares of SOPHiA GENETICS from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Zacks Research raised shares of SOPHiA GENETICS to a "hold" rating in a research note on Tuesday, July 21st. Weiss Ratings restated a "sell (d-)" rating on shares of SOPHiA GENETICS in a research report on Friday, July 17th. Finally, HC Wainwright lifted their price target on SOPHiA GENETICS from $12.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $10.00.

SOPHiA GENETICS Stock Down 1.5%

The firm has a market cap of $694.19 million, a price-to-earnings ratio of -7.20 and a beta of 0.96. The stock's 50 day moving average is $6.58 and its 200 day moving average 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.

SOPHiA GENETICS (NASDAQ:SOPH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.26) EPS 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 during the quarter, compared to the consensus estimate of $21.72 million. Analysts forecast that SOPHiA GENETICS SA will post -0.77 EPS for the current year.

Insider Activity

In related news, insider Zhenyu Xu sold 17,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $7.29, for a total transaction of $123,930.00. Following the completion of the sale, the insider directly owned 590,887 shares in the company, valued at approximately $4,307,566.23. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jurgi Camblong sold 50,069 shares of SOPHiA GENETICS stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $5.80, for a total transaction of $290,400.20. Following the completion of the transaction, the chief executive officer owned 3,601,493 shares in the company, valued at approximately $20,888,659.40. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 344,842 shares of company stock valued at $2,199,315. Insiders own 4.88% of the company's stock.

Hedge Funds Weigh In On SOPHiA GENETICS

A number of hedge funds have recently modified their holdings of the stock. AWM Investment Company Inc. acquired a new position in shares of SOPHiA GENETICS in the 2nd quarter valued at $9,809,000. Sei Investments Co. acquired a new position in shares of SOPHiA GENETICS in the first quarter worth about $1,772,000. 1492 Capital Management LLC acquired a new position in shares of SOPHiA GENETICS in the fourth quarter worth about $973,000. Royce & Associates LP purchased a new position in shares of SOPHiA GENETICS in the fourth quarter worth approximately $2,009,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of SOPHiA GENETICS during the second quarter valued at approximately $567,000. 31.59% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source