SOPHiA GENETICS (NASDAQ:SOPH) Sees Large Volume Increase – Here’s Why

SOPHiA GENETICS SA (NASDAQ:SOPH) 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) 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.