SOPHiA GENETICS (NASDAQ:SOPH) Sees Strong Trading Volume – Here’s What Happened

Shares of SOPHiA GENETICS SA (NASDAQ:SOPH) saw unusually-strong trading volume on Thursday. 1,175,730 shares traded hands during trading, an increase of 275% from the previous session’s volume of 313,782 shares. The stock last traded at $7.27 and had previously closed at $7.06.

Analysts Set New Price Targets

Several analysts recently weighed in on SOPH shares. Weiss Ratings reissued a “sell (d-)” rating on shares of SOPHiA GENETICS in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of SOPHiA GENETICS in a report on Monday, October 12th. BTIG Research upped their price objective on SOPHiA GENETICS from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Zacks Research raised shares of SOPHiA GENETICS to a “hold” rating in a research report on Tuesday, July 21st. Three research 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.00.

SOPHiA GENETICS Stock Performance

The stock’s 50-day simple moving average is $7.96 and its 200-day simple moving average is $6.24. The stock has a market cap of $564.58 million, a price-to-earnings ratio of -5.85 and a beta of 0.95. The company has a current ratio of 2.69, a quick ratio of 2.55 and a debt-to-equity ratio of 0.58.

SOPHiA GENETICS (NASDAQ:SOPH) last announced its earnings results on Wednesday, August 5th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.05). The business had revenue of $23.31 million for the quarter, compared to the consensus estimate of $21.72 million. SOPHiA GENETICS had a negative return on equity of 132.47% and a negative net margin of 93.86%. Analysts forecast that SOPHiA GENETICS SA will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Jurgi Camblong sold 40,172 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $8.13, for a total transaction of $326,598.36. Following the completion of the sale, the chairman directly owned 3,395,650 shares in the company, valued at approximately $27,606,634.50. This represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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, CEO Ross Muken sold 9,838 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $8.13, for a total value of $79,982.94. Following the sale, the chief executive officer directly owned 660,391 shares in the company, valued at approximately $5,368,978.83. This trade represents a 1.47% 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. Insiders have sold a total of 300,043 shares of company stock worth $2,256,756 in the last 90 days. Company insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Maven Securities LTD bought a new stake in SOPHiA GENETICS during the second quarter worth about $866,000. AXQ Capital LP acquired a new stake in SOPHiA GENETICS during the second quarter worth about $119,000. AWM Investment Company Inc. bought a new position in SOPHiA GENETICS in the 2nd quarter valued at about $9,809,000. Hennion & Walsh Asset Management Inc. bought a new position in SOPHiA GENETICS in the 2nd quarter valued at about $567,000. Finally, Royal Bank of Canada increased its holdings in SOPHiA GENETICS by 3,130.2% in the 1st quarter. Royal Bank of Canada now owns 19,381 shares of the company’s stock valued at $96,000 after buying an additional 18,781 shares during the period. Institutional investors own 31.59% of the company’s stock.

About SOPHiA GENETICS

SOPHiA GENETICS is a healthcare technology company that develops cloud-based data analytics solutions for the life sciences and healthcare industries. Its platform is designed to help organizations analyze and interpret complex genomic and multimodal data to support more informed clinical and research decisions.

The company’s principal offering, the SOPHiA DDM platform, combines data management, analytics and artificial intelligence capabilities. It supports applications including cancer genomics, hereditary disease analysis, reproductive health and other areas of precision medicine.