SOPHiA GENETICS (NASDAQ:SOPH) Shares Gap Up – Here’s What Happened

Shares of SOPHiA GENETICS SA (NASDAQ:SOPH) gapped up before the market opened on Tuesday. The stock had previously closed at $7.49, but opened at $7.90. SOPHiA GENETICS shares last traded at $7.7150, with a volume of 347,987 shares changing hands.

Wall Street Analysts Forecast Growth

SOPH has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of SOPHiA GENETICS in a research note on Monday, October 12th. Zacks Research upgraded shares of SOPHiA GENETICS to a “hold” rating in a research note on Tuesday, July 21st. BTIG Research boosted their target price on shares of SOPHiA GENETICS from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of SOPHiA GENETICS in a report on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

SOPHiA GENETICS Stock Up 4.1%

The firm has a market cap of $654.34 million, a price-to-earnings ratio of -7.15 and a beta of 1.09. The company has a current ratio of 2.29, a quick ratio of 2.55 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $7.69 and a 200-day moving average of $6.00.

SOPHiA GENETICS (NASDAQ:SOPH) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). The company had revenue of $24.27 million for the quarter, compared to the consensus estimate of $24.03 million. SOPHiA GENETICS had a negative return on equity of 128.69% and a negative net margin of 89.18%. As a group, sell-side analysts forecast that SOPHiA GENETICS SA will post -0.94 EPS for the current fiscal year.

Insider Buying and Selling at SOPHiA GENETICS

In related news, CEO Ross Muken sold 9,838 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $8.13, for a total value of $79,982.94. Following the sale, the chief executive officer owned 660,391 shares of the company’s stock, valued at $5,368,978.83. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Zhenyu Xu sold 10,000 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $8.91, for a total transaction of $89,100.00. Following the completion of the sale, the insider directly owned 556,887 shares in the company, valued at approximately $4,961,863.17. This trade represents a 1.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 162,162 shares of company stock valued at $1,307,934. Corporate insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SOPH. Royce & Associates LP lifted its stake in shares of SOPHiA GENETICS by 15.0% in the 3rd quarter. Royce & Associates LP now owns 3,887,743 shares of the company’s stock worth $32,579,000 after acquiring an additional 506,007 shares during the period. AWM Investment Company Inc. acquired a new position in shares of SOPHiA GENETICS in the second quarter worth about $9,809,000. Principal Financial Group Inc. boosted its holdings in shares of SOPHiA GENETICS by 0.7% in the first quarter. Principal Financial Group Inc. now owns 1,409,242 shares of the company’s stock worth $6,976,000 after buying an additional 9,800 shares during the period. Sowell Financial Services LLC acquired a new position in shares of SOPHiA GENETICS in the third quarter worth about $2,865,000. Finally, Sei Investments Co. purchased a new position in shares of SOPHiA GENETICS in the first quarter worth approximately $1,772,000. Institutional investors and hedge funds own 31.59% of the company’s stock.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS SA is a healthcare technology company that develops data-driven solutions for genomic medicine. Its cloud-based platform uses artificial intelligence, machine learning and advanced analytics to help healthcare organizations analyze and interpret complex biological and clinical data. The company’s primary offering, the SOPHiA DDM platform, supports next-generation sequencing workflows, including data management, quality control, genomic analysis, variant interpretation and reporting.