SOPHiA GENETICS (NASDAQ:SOPH) Stock Price Up 10.5% – Here’s Why

SOPHiA GENETICS SA (NASDAQ:SOPH)’s share price traded up 10.5% during trading on Tuesday . The company traded as high as $6.19 and last traded at $6.2890. 54,810 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 199,691 shares. The stock had previously closed at $5.69.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SOPH shares. Zacks Research raised SOPHiA GENETICS to a “hold” rating in a research report on Tuesday, July 21st. BTIG Research reissued a “buy” rating and issued a $8.00 price target on shares of SOPHiA GENETICS in a research report on Monday, June 15th. HC Wainwright started coverage on shares of SOPHiA GENETICS in a research note on Monday, July 20th. They set a “buy” rating and a $12.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of SOPHiA GENETICS in a report on Friday, July 17th. Three 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, SOPHiA GENETICS currently has a consensus rating of “Hold” and a consensus target price of $9.00.

SOPHiA GENETICS Trading Up 14.5%

The stock has a market capitalization of $546.54 million, a PE ratio of -12.51 and a beta of 0.96. The firm has a 50 day moving average price of $5.48 and a 200 day moving average price of $5.10. The company has a quick ratio of 1.90, a current ratio of 2.06 and a debt-to-equity ratio of 1.05.

SOPHiA GENETICS (NASDAQ:SOPH) last posted its earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.09). The company had revenue of $23.31 million during the quarter, compared to the consensus estimate of $21.72 million. SOPHiA GENETICS had a negative net margin of 44.48% and a negative return on equity of 62.74%. Equities analysts expect that SOPHiA GENETICS SA will post -0.58 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ross Muken sold 9,838 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $5.22, for a total value of $51,354.36. Following the completion of the sale, the chief executive officer owned 670,651 shares in the company, valued at $3,500,798.22. This represents a 1.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Philippe Menu sold 7,393 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.16, for a total transaction of $38,147.88. Following the completion of the sale, the insider owned 233,387 shares of the company’s stock, valued at approximately $1,204,276.92. This represents a 3.07% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 221,092 shares of company stock valued at $1,250,070 over the last quarter. 4.88% of the stock is owned by insiders.

Institutional Investors Weigh In On SOPHiA GENETICS

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOPH. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in SOPHiA GENETICS by 246.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,632,871 shares of the company’s stock worth $25,341,000 after purchasing an additional 5,432,871 shares during the last quarter. Akre Capital Management LLC grew its stake in SOPHiA GENETICS by 66.2% in the 2nd quarter. Akre Capital Management LLC now owns 3,719,140 shares of the company’s stock valued at $11,529,000 after purchasing an additional 1,481,636 shares during the period. Hodges Capital Management Inc. purchased a new stake in shares of SOPHiA GENETICS during the 1st quarter valued at $2,157,000. Royce & Associates LP purchased a new stake in shares of SOPHiA GENETICS during the 4th quarter valued at $2,009,000. Finally, Sei Investments Co. bought a new stake in shares of SOPHiA GENETICS during the 1st quarter worth $1,772,000. Hedge funds and other institutional investors own 31.59% of the company’s stock.

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.