Revenue Update on Cancer Genetics Inc(NASDAQ:CGIX)

Cancer Genetics Inc(NASDAQ:CGIX) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $7.00M. Analysts estimated a revenue of $6.50M. Earnings per share were $-0.28. Analysts had estimated an EPS of $-0.33.

Cancer Genetics Inc (CGIX) made into the market gainers list on Wednesdays trading session with the shares advancing 1.94% or 0.045 points. Due to strong positive momentum, the stock ended at $2.37, which is also near the day’s high of $2.73. The stock began the session at $2.3 and the volume stood at 7,74,887 shares. The 52-week high of the shares is $11.4527 and the 52 week low is $1.8. The company has a current market capitalization of $38 M and it has 1,61,20,094 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 19, 2016, John Pappajohn (director 10% owner) purchased 317,820 shares at $0.00 per share price.Also, On Mar 18, 2016, Howard Mcleod (director) purchased 1,000 shares at $2.71 per share price.On Mar 17, 2016, Panna Sharma (CEO) purchased 1,500 shares at $2.59 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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