SOPHiA GENETICS (NASDAQ:SOPH) Downgraded by Morgan Stanley

Morgan Stanley cut shares of SOPHiA GENETICS (NASDAQ:SOPH) from an overweight rating to an equal weight rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm currently has $5.00 price objective on the stock, down from their previous price objective of $10.00.

Separately, Guggenheim started coverage on shares of SOPHiA GENETICS in a research report on Thursday, June 27th. They issued a buy rating and a $6.00 price target for the company.

SOPHiA GENETICS Stock Performance

Shares of NASDAQ:SOPH traded down $0.11 during mid-day trading on Wednesday, hitting $3.24. The stock had a trading volume of 50,213 shares, compared to its average volume of 78,068. The company has a market cap of $211.82 million, a PE ratio of -2.89 and a beta of 1.06. SOPHiA GENETICS has a 12-month low of $2.13 and a 12-month high of $7.37. The company’s 50 day moving average is $4.61 and its 200-day moving average is $4.76.

SOPHiA GENETICS (NASDAQ:SOPH) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.05. The business had revenue of $15.81 million during the quarter, compared to the consensus estimate of $17.58 million. SOPHiA GENETICS had a negative net margin of 102.84% and a negative return on equity of 45.31%. During the same quarter in the prior year, the firm earned ($0.33) EPS. On average, equities research analysts predict that SOPHiA GENETICS will post -1.04 EPS for the current fiscal year.

Institutional Investors Weigh In On SOPHiA GENETICS

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SOPHiA GENETICS by 90.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,834 shares of the company’s stock worth $65,000 after buying an additional 6,552 shares in the last quarter. Banque Cantonale Vaudoise lifted its position in SOPHiA GENETICS by 300.0% in the 2nd quarter. Banque Cantonale Vaudoise now owns 12,000 shares of the company’s stock worth $55,000 after buying an additional 9,000 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in SOPHiA GENETICS by 5.0% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 203,334 shares of the company’s stock worth $1,002,000 after buying an additional 9,700 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of SOPHiA GENETICS by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,007,177 shares of the company’s stock valued at $4,965,000 after purchasing an additional 11,677 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of SOPHiA GENETICS by 57.5% during the 2nd quarter. Federated Hermes Inc. now owns 63,000 shares of the company’s stock valued at $289,000 after purchasing an additional 23,000 shares in the last quarter. Hedge funds and other institutional investors own 31.59% of the company’s stock.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS SA operates as a cloud-native software technology company in the healthcare space. The company offers SOPHiA DDM platform, a cloud-native software platform for analyzing data and generating insights from multimodal data sets and diagnostic modalities. Its SOPHiA DDM platform and related solutions, applications, products, and services are used by hospitals, laboratories, and biopharmaceutical companies through its own sales force as well as distributors and industry collaborators in Switzerland, France, Italy, rest of Europe, North America, the United States, Latin America, and the Asia-pacific.