Short Interest in SOPHiA GENETICS SA (NASDAQ:SOPH) Rises By 47.0%

SOPHiA GENETICS SA (NASDAQ:SOPH) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 39,400 shares, an increase of 47.0% from the August 15th total of 26,800 shares. Based on an average trading volume of 75,700 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in shares of SOPHiA GENETICS by 35.9% during the second quarter. Principal Financial Group Inc. now owns 1,368,378 shares of the company’s stock valued at $6,267,000 after purchasing an additional 361,201 shares in the last quarter. Akre Capital Management LLC purchased a new position in shares of SOPHiA GENETICS in the 1st quarter valued at $1,418,000. Essex Investment Management Co. LLC raised its position in shares of SOPHiA GENETICS by 112.1% in 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 in the last quarter. Moloney Securities Asset Management LLC boosted its position in SOPHiA GENETICS by 111.4% during the first quarter. Moloney Securities Asset Management LLC now owns 178,000 shares of the company’s stock valued at $878,000 after purchasing an additional 93,800 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in SOPHiA GENETICS by 57.5% in the second quarter. Federated Hermes Inc. now owns 63,000 shares of the company’s stock valued at $289,000 after purchasing an additional 23,000 shares during the last quarter. Hedge funds and other institutional investors own 31.59% of the company’s stock.

SOPHiA GENETICS Trading Down 1.2 %

Shares of NASDAQ SOPH traded down $0.05 during trading hours on Monday, reaching $3.96. The stock had a trading volume of 1,732 shares, compared to its average volume of 76,583. SOPHiA GENETICS has a 52-week low of $2.33 and a 52-week high of $7.37. The firm has a market cap of $258.89 million, a price-to-earnings ratio of -3.58 and a beta of 1.04. The business’s fifty day moving average price is $4.04 and its two-hundred day moving average price is $4.57. The company has a current ratio of 4.40, a quick ratio of 4.17 and a debt-to-equity ratio of 0.11.

SOPHiA GENETICS (NASDAQ:SOPH) last issued its earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. The business had revenue of $15.81 million during the quarter, compared to analysts’ expectations of $17.58 million. SOPHiA GENETICS had a negative return on equity of 47.40% and a negative net margin of 102.84%. During the same period in the prior year, the business earned ($0.33) EPS. Analysts expect that SOPHiA GENETICS will post -0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SOPH has been the topic of several analyst reports. Morgan Stanley downgraded shares of SOPHiA GENETICS from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $10.00 to $5.00 in a report on Wednesday, August 7th. Guggenheim began coverage on SOPHiA GENETICS in a report on Thursday, June 27th. They set a “buy” rating and a $6.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on SOPHiA GENETICS from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

About SOPHiA GENETICS

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.