Revenue Update on Cancer Genetics Inc(NASDAQ:CGIX)

Cancer Genetics Inc(NASDAQ:CGIX) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Mar 23, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $7.230M. Analysts estimated a revenue of $7.100M. The revenues were 1.83% above the estimates. Earnings per share were $-0.15. The reported EPS was above estimates by 31.82%. Analysts had estimated an EPS of $-0.22.

Cancer Genetics Inc (CGIX) made into the market gainers list on Fridays trading session with the shares advancing 16.42% or 0.55 points. Due to strong positive momentum, the stock ended at $3.9, which is also near the day’s high of $3.95. The stock began the session at $3.5 and the volume stood at 18,67,079 shares. The 52-week high of the shares is $3.95 and the 52 week low is $1.1. The company has a current market capitalization of $74 M and it has 1,89,35,594 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Dec 14, 2016, Geoffrey E. Harris (director) purchased 2,500 shares at $1.50 per share price.Also, On Nov 29, 2016, John Pappajohn (director 10% owner) purchased 100,000 shares at $1.45 per share price.On Nov 16, 2016, Edward J Sitar (Chief Financial Officer) sold 3,333 shares at $1.56 per share price, according to the Form-4 filing with the securities and exchange commission.

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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