Cancer Genetics, Inc. (CGIX) Stock: Seeing Declines In Today’s Session

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Cancer Genetics, Inc. (CGIX) is making a move down in the market in today’s trading session. The stock, one that is focused in the biotech space, is currently trading at $0.16 after falling -8.19% so far today. As it relates to biotechnology stocks, there are quite a few aspects that have the potential to cause movement in the market. News is one of the most common reasons for movement. Here are the recent trending headlines surrounding CGIX:

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Aug-20-19 08:00AM Cancer Genetics Reports Second Quarter 2019 Financial Results and Provides Strategic Business Update
Jul-16-19 12:44PM A Look At Benzinga Pro’s Most-Searched Tickers For July 16, 2019
08:44AM Cancer Genetics Sharply Higher After Interpace Buys Biopharma Unit
Jul-15-19 04:22PM Cancer Genetics, Inc. Announces Strategic Transactions
04:10PM Interpace Diagnostics Acquires Cancer Genetics Biopharma Services Business Supported by Investment from Ampersand Capital Partners

However, any time investors are making a decision to invest, investors should look at much more than just news, this is especially the case in the generally speculative biotechnology industry. Here’s what’s going on with Cancer Genetics, Inc..

How CGIX Has Been Trending

Although a single session decline, like what we’re seeing from Cancer Genetics, Inc. might cause fear in some investors, a single session decline by itself should not be the basis of a decision to, or not to, invest in a company. It is always a good idea to look into trends for a period longer than a single trading day. When it comes to CGIX, below are the movements that investors have seen:

  • Past 5 Trading Sessions – Throughout the past 7 days, CGIX has produced a change in value that amounts to 43.89%.
  • Monthly – The monthly returns from Cancer Genetics, Inc. comes to 69.37%.
  • Past Quarter – In the past quarter, the company has generated a return on investment that comes to -6.72%
  • Past 6 Months – Over the previous six months, we’ve seen a change that amounts to -35.63% from the company.
  • This Year So Far – Since the the first trading session of this year CGIX has produced a return on investment of -32.81%.
  • Annually – Lastly, over the last year, we’ve seen a change that works out to -81.71% out of CGIX. In this period, the stock has sold at a high price of -82.98% and a low of 91.29%.

Ratios To Watch

Looking at various key ratios having to do with a stock generally gives prospective traders a view of how risky and/or potentially profitable a stock pick may be. Here are some of the most important ratios to look at when digging into CGIX.

Short Ratio – The short ratio is a measure of short interest. The higher this ratio, the more investors have a belief that the price of the stock is headed for declines. In general, biotechnology stocks tend to have a higher short ratio. However, we also tend to see a lot of short squeezes in the industry. Nonetheless, as it relates to Cancer Genetics, Inc., the stock’s short ratio amounts to 0.35.

Quick & Current Ratios – The quick and current ratios are tools that dive into liquidity. Essentially, they measure whether or not a company can cover its debts when they come due with only quick assets or current assets. In the biotechnology sector, several companies are heavily reliant on the continuation of support from investors, these ratios can look damning. Nonetheless, several gems in the biotechnology space do have great current and quick ratios. As far as CGIX, the quick and current ratios work out to 0.80 and 0.80 respectively.  

Book To Share Value – The book to share value compares the the price of shares to the book value of assets owned by the company. In this particular case, the book to share value ratio works out to 0.09.

Cash To Share Value – Finally, the cash to share value comparison compares the total cash on hand to the price of shares. Several early stage biotechnology companies struggle to keep cash on hand. So, when investing in the biotechnology industry, this is an important ratio to look into. In this case, the cash to share value ratio works out to 0.01.

Analyst Opinions Of Cancer Genetics, Inc.

Although it’s rarely a smart idea to avoid doing your DD and blindly following the thoughts of analysts, it is a smart idea to consider their opinions when validating your own opinions when it comes to making investment decisions in the biotech sector. Here are the recent moves that we have seen from analysts with regard to CGIX.

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Dec-07-17 Initiated Maxim Group Buy $6
Jun-27-17 Initiated Dawson James Buy
Jun-26-17 Initiated The Benchmark Company Speculative Buy $6
Sep-26-16 Initiated Rodman & Renshaw Buy $6

Big Money And Cancer Genetics, Inc.

One thing I have learned in my brief period here is that smart investors tend to follow big money players. That is to say, investors that are looking to play it relatively safe will pay close attention to moves made by institutions as well as insiders of the company. So, is big money interested when it comes to CGIX? Here’s the scoop:

Institutions own 16.20% of the company. Institutional interest has moved by 0 over the past three months. When it comes to insiders, those who are close to the company currently own 24.60% percent of CGIX shares. Institutions have seen ownership changes of an accumulative 0.00% over the last three months.

A Look At Share Counts

Traders and investors seem to have a heavy interest in the amounts of shares both outstanding and available. In terms of Cancer Genetics, Inc., currently there are 65.64M with a float of 50.09M. These numbers mean that out of the total of 65.64M shares of CGIX that are out there today, 50.09M are able to be traded in the public space.

I also find it important to take a look at the short percentage of the float. After all, if a large percentage of the float available for trading is sold short, the overall opinion among traders is that the company is going to fall hard. In regard to CGIX, the short percentage of the float totals up to 3.04%. In general, concerning short percent of the float is considered to be anything over 40%. Through my work, I’ve seen that a short percent of the float over 26% is likely a a play that could prove to be very risky.

What We’ve Seen In earnings results

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $0. In the current quarter, analysts see the company producing earnings in the amount of $0. Over the last 5 years, CGIX has generated revenue in the amount of $33.00% with earnings coming in at 22.40%. On a quarter over quarter basis, earnings have seen movement of -134.90% and revenue has seen movement of 15.40%.

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