SOPHiA GENETICS SA (NASDAQ:SOPH) Sees Large Growth in Short Interest

SOPHiA GENETICS SA (NASDAQ:SOPH) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 56,500 shares, an increase of 134.4% from the October 31st total of 24,100 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 29,800 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada dropped their target price on shares of SOPHiA GENETICS from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Morgan Stanley downgraded shares of SOPHiA GENETICS from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $10.00 to $5.00 in a research note on Wednesday, August 7th.

SOPHiA GENETICS Price Performance

SOPH traded up $0.14 on Friday, reaching $3.41. The stock had a trading volume of 7,100 shares, compared to its average volume of 65,167. The company has a current ratio of 3.80, a quick ratio of 3.59 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $222.95 million, a price-to-earnings ratio of -3.13 and a beta of 1.03. SOPHiA GENETICS has a fifty-two week low of $2.70 and a fifty-two week high of $7.37. The firm has a 50-day moving average of $3.50 and a 200-day moving average of $4.06.

SOPHiA GENETICS (NASDAQ:SOPH) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.04). SOPHiA GENETICS had a negative net margin of 110.71% and a negative return on equity of 55.06%. The firm had revenue of $15.85 million during the quarter, compared to analyst estimates of $15.90 million. During the same period in the prior year, the company earned ($0.21) EPS. As a group, sell-side analysts anticipate that SOPHiA GENETICS will post -0.98 EPS for the current year.

Hedge Funds Weigh In On SOPHiA GENETICS

A number of hedge funds have recently modified their holdings of SOPH. Principal Financial Group Inc. increased its holdings in SOPHiA GENETICS by 6.3% in the third quarter. Principal Financial Group Inc. now owns 1,455,142 shares of the company’s stock valued at $5,290,000 after purchasing an additional 86,764 shares during the period. Federated Hermes Inc. grew its position in shares of SOPHiA GENETICS by 57.5% in the 2nd quarter. Federated Hermes Inc. now owns 63,000 shares of the company’s stock valued at $289,000 after buying an additional 23,000 shares during the last quarter. Green Alpha Advisors LLC bought a new stake in shares of SOPHiA GENETICS in the 3rd quarter valued at about $79,000. Finally, Banque Cantonale Vaudoise increased its stake in shares of SOPHiA GENETICS by 300.0% in the second quarter. Banque Cantonale Vaudoise now owns 12,000 shares of the company’s stock valued at $55,000 after buying an additional 9,000 shares during the period. Institutional investors and hedge funds own 31.59% of the company’s stock.

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.