Fairbanks Capital Management buys $390,382 stake in Cancer Genetics Inc (CGIX)

Cancer Genetics Inc (CGIX) : Fairbanks Capital Management scooped up 2,000 additional shares in Cancer Genetics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 235,170 shares of Cancer Genetics Inc which is valued at $390,382.Cancer Genetics Inc makes up approximately 0.45% of Fairbanks Capital Management’s portfolio.

Other Hedge Funds, Including ,

Cancer Genetics Inc closed down -0.05 points or -2.92% at $1.66 with 1,18,949 shares getting traded on Friday. Post opening the session at $1.71, the shares hit an intraday low of $1.6 and an intraday high of $1.72 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Cancer Genetics Inc reported $-0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.33. The company had revenue of $7.00 million for the quarter, compared to analysts expectations of $6.50 million. The company’s revenue was up 67.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.51 EPS.

Many Wall Street Analysts have commented on Cancer Genetics Inc. Rodman & Renshaw Initiated Cancer Genetics Inc on Sep 26, 2016 to “Buy”, Price Target of the shares are set at $6.

Cancer Genetics Inc. is an oncology diagnostics company focused on developing commercializing and providing DNA-based tests and services. The business is based on demand for DNA-based diagnostic services from three main sectors including cancer centers and hospitals biotechnology and biopharmaceutical companies and the research community. Its clinical offerings include its portfolio of proprietary tests targeting hematological urogenital and HPV-associated cancers in conjunction with ancillary non-proprietary tests. Biopharma services include laboratory and testing services performed for biopharmaceutical companies engaged in clinical trials. Discovery services provide the tools and testing methods for companies and researchers seeking to identify new DNA-based biomarkers for disease.

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