SOPHiA GENETICS (NASDAQ:SOPH) Sees Large Volume Increase – Still a Buy?

SOPHiA GENETICS SA (NASDAQ:SOPH) shares saw strong trading volume on Tuesday . Approximately 229,338 shares were traded during trading, an increase of 31% from the previous session’s volume of 174,682 shares.The stock last traded at $6.2430 and had previously closed at $5.98.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BTIG Research reaffirmed a “buy” rating and issued a $8.00 target price on shares of SOPHiA GENETICS in a research report on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of SOPHiA GENETICS in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.50.

SOPHiA GENETICS Stock Down 3.1%

The firm’s 50 day moving average price is $5.10 and its two-hundred day moving average price is $4.95. The firm has a market cap of $468.95 million, a price-to-earnings ratio of -10.75 and a beta of 0.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.06 and a quick ratio of 1.90.

SOPHiA GENETICS (NASDAQ:SOPH) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $21.69 million for the quarter, compared to analysts’ expectations of $20.40 million. SOPHiA GENETICS had a negative return on equity of 62.74% and a negative net margin of 44.48%.

Insiders Place Their Bets

In other news, insider Philippe Menu sold 5,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $5.50, for a total transaction of $27,500.00. Following the transaction, the insider directly owned 240,780 shares of the company’s stock, valued at $1,324,290. This represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Abhimanyu Verma sold 6,944 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $5.51, for a total transaction of $38,261.44. Following the completion of the transaction, the chief technology officer directly owned 197,456 shares of the company’s stock, valued at approximately $1,087,982.56. This trade represents a 3.40% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 263,185 shares of company stock worth $1,341,645. Company insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. 1492 Capital Management LLC purchased a new position in SOPHiA GENETICS during the 4th quarter valued at about $973,000. Royce & Associates LP acquired a new position in SOPHiA GENETICS in the 4th quarter valued at $2,009,000. Royal Bank of Canada increased its stake in SOPHiA GENETICS by 3,130.2% in the first quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock valued at $96,000 after purchasing an additional 18,781 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of SOPHiA GENETICS during the 3rd quarter valued at about $49,000. Finally, Quadrature Capital Ltd purchased a new position in SOPHiA GENETICS during the fourth quarter worth approximately $54,000. 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.