SOPHiA GENETICS SA (NASDAQ:SOPH) Sees Significant Increase in Short Interest

SOPHiA GENETICS SA (NASDAQ:SOPH) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 74,600 shares, an increase of 38.1% from the May 31st total of 54,000 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 112,600 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On SOPHiA GENETICS

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Pictet & Cie SA lifted its holdings in shares of SOPHiA GENETICS by 2.3% in the third quarter. Banque Pictet & Cie SA now owns 2,237,340 shares of the company’s stock valued at $5,705,000 after purchasing an additional 50,000 shares in the last quarter. Principal Financial Group Inc. raised its position in SOPHiA GENETICS by 1.2% during the first quarter. Principal Financial Group Inc. now owns 1,007,177 shares of the company’s stock valued at $4,965,000 after buying an additional 11,677 shares during the period. Akre Capital Management LLC purchased a new stake in SOPHiA GENETICS in the 1st quarter worth about $1,418,000. Essex Investment Management Co. LLC boosted its position in SOPHiA GENETICS by 112.1% during the 1st quarter. Essex Investment Management Co. LLC now owns 262,834 shares of the company’s stock worth $1,296,000 after acquiring an additional 138,933 shares during the period. Finally, Edmond DE Rothschild Holding S.A. grew its stake in SOPHiA GENETICS by 5.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 203,334 shares of the company’s stock valued at $1,002,000 after acquiring an additional 9,700 shares in the last quarter. 31.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Guggenheim started coverage on SOPHiA GENETICS in a report on Thursday. They issued a “buy” rating and a $6.00 price objective for the company. BTIG Research lifted their price objective on shares of SOPHiA GENETICS from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $8.00 target price on shares of SOPHiA GENETICS in a research note on Wednesday, March 6th.

SOPHiA GENETICS Stock Performance

Shares of NASDAQ:SOPH traded up $0.06 during midday trading on Monday, reaching $4.64. The company had a trading volume of 142,952 shares, compared to its average volume of 82,831. The company has a fifty day simple moving average of $4.85 and a two-hundred day simple moving average of $4.83. The firm has a market cap of $303.36 million, a price-to-earnings ratio of -4.14 and a beta of 1.06. SOPHiA GENETICS has a 1-year low of $2.13 and a 1-year high of $7.37.

SOPHiA GENETICS (NASDAQ:SOPH) last announced its earnings results on Tuesday, May 7th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.04. SOPHiA GENETICS had a negative net margin of 113.71% and a negative return on equity of 47.56%. The company had revenue of $15.78 million during the quarter, compared to analysts’ expectations of $16.80 million. Analysts expect that SOPHiA GENETICS will post -1.04 EPS for the current year.

SOPHiA GENETICS Company Profile

SOPHiA GENETICS SA operates as a cloud-native software technology company in the healthcare space. The company offers SOPHiA DDM platform, a cloud-native software platform for analyzing data and generating insights from multimodal data sets and diagnostic modalities. Its SOPHiA DDM platform and related solutions, applications, products, and services are used by hospitals, laboratories, and biopharmaceutical companies through its own sales force as well as distributors and industry collaborators in Switzerland, France, Italy, rest of Europe, North America, the United States, Latin America, and the Asia-pacific.