Biocept, Inc. (NASDAQ:BIOC) Stock Is Less Attractive Than It Looks

Taking into account all relevant factors, Biocept, Inc. (NASDAQ:BIOC) scores 88% Sell on the technical side. The share price is also flashing a Sell from the Barchart TrendSpotter trading system. Investors starting out on a short-term path of investing should know that short terms indicators for BIOC averaged 50% Sell with an average daily trading volume over the past 20 days at 12124674 shares. Those using medium-term investment strategies, the shares have overall a 1% Sell signal while the 50-day average daily volume remained almost 6617647 shares. It’s also important to note that the stock, whose average daily volume over the 100 days as of this piece was 3464098 shares, is signaling100% Sell for long term investors.

The stock is lingering around the initial support level of $0.33. After this, the following support is at the zone of $0.3. Up until the time the BIOC stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 49.57 on the daily chart, and this may be a cause for concern. In case the price goes below $0.3 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $0.38 level may cause a pull-back move approaching $0.4 mark.

Biocept, Inc. (BIOC) is most likely going to rise 185.71 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $1 as 12-month high price target. This represents a whopping 185.71 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $1, which means a return possibility of 185.71 percent in comparison with the closing price of the stock of $0.35 in recent trading session. The lowest price set for the stock is $1 which is just above 185.71 percent from BIOC share’s price at the end of session.

Let’s take a glimpse at some insider activity at Biocept, Inc. (NASDAQ:BIOC) and observe the pattern. The earliest insider trade happened on 10/19/2016. Nall Michael W. gathered a total of 36.36 thousand shares of the firm at average share price of $1.1. The total amount for the purchase was set at $40 thousand. On completing this exchange, the CEO & President account balance was 74.58 thousand shares. The stock lost -70 percent from that insider purchase. On 10/19/2016, Chandler Marsha Alpert, Director, did a purchase of 4.55 thousand shares at a price of $1.1 per share. This increased 5 thousand shares to the insider’s fortune and the stock experienced a -70 percent retreat in price since the news became public. This exchange saw 6.91 thousand shares get into the Director account. On 10/19/2016, CFO, Sr V.P. Operations & Sec. Kennedy Timothy recorded a purchase transaction valued at $40 thousand. The purchase at $1.1 a share has added 36.36 thousand shares into the insider’s portfolio position. Meanwhile, shares price witnessed -70 percent decrease since the transaction reporting date. The company insider is left with 61.36 thousand shares remaining in the account. HUEBNER BRUCE A, who works as Director at the company, performed a purchase of 20 thousand shares in a transaction worth $22 thousand. The acquisition recorded on 10/19/2016 was priced at $1.1 per share. The stock price plunged -70 percent since the transaction. HUEBNER BRUCE A currently holds a stake of 24 thousand in BIOC stock which is worth $8.4 thousand after the insider buying.

In the recent trading session, Biocept, Inc. (NASDAQ:BIOC) shares lost -3.54% or -0.01 points to reach at $0.35 with a thin trading volume of 2.545 million shares. It opened the trading session at $0.34, the shares rose to $0.37 and dropped to $0.32, the range by which the price of stock traded the whole session. The company now has a market cap of $18.73 million and currently has 52.15 million outstanding shares. Biocept, Inc. (BIOC) stock has accumulated 35.75 percent of market value in 21 trading days.

Stock analysts at Chardan Capital Markets lifted target price for Biocept, Inc. (NASDAQ:BIOC) shares but reaffirmed their Buy recommendation for the stock in their opinion released on November 14. The price target has been increased from $2.50 to $1.50.

BIOC stock’s trailing 3-year beta is 1.55, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was -$2.67 share in the trailing 52 weeks. The stock’s value surged 25.59 percent year to date (YTD) compared to a decline of -78.49 percent in 52 week’s period. The firm’s shares are still trading -90.69 percent below its 1-year high of $3.72 and 52.31 percent up from 52-week low of $0.23. The average consensus ranking on the company is 2, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a buy.

Biocept, Inc. (BIOC) shares are trading at a P/E ratio of -0.09 times earnings posted in the trailing 12 months. The industry BIOC deals with has an average P/E of 30.96. Its P/B ratio is standing at -0.69X compared to the 4.62 industry average. It is additionally sporting a 4.06 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.45.

Past records have indicated that shares in Biocept, Inc. declined on 22 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of BIOC’s Q4 earnings on March 09. Analysts are predicting revenue to climb 97.9 percent to $1.7M in the financial fourth quarter, while EPS will soar by about -95.87 percent to -$0.1 per share. In the last quarter, it’s earnings of -$1.43 per share came worse than the $7161425, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $1.53M, topping the $1.45M analysts had expected. Earnings are seen to rise by 56.9 percent this year, 65.6 percent in the coming year and the trend continues by 40 percent every year in the next 5 years.