Interpace Diagnostics Group, Inc. (IDXG) Sees Large Increase in Short Interest

Interpace Diagnostics Group, Inc. (NASDAQ:IDXG) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 3,949,802 shares, a growth of 44.5% from the August 15th total of 2,732,938 shares. Approximately 17.9% of the shares of the stock are sold short. Based on an average daily volume of 5,999,808 shares, the days-to-cover ratio is presently 0.7 days.

Several equities research analysts have recently issued reports on IDXG shares. ValuEngine raised Interpace Diagnostics Group from a “strong sell” rating to a “sell” rating in a report on Monday, September 11th. Maxim Group started coverage on Interpace Diagnostics Group in a report on Tuesday, August 15th. They issued a “buy” rating and a $5.00 target price on the stock.

Shares of Interpace Diagnostics Group (IDXG) opened at 1.64 on Friday. The company’s market capitalization is $36.35 million. Interpace Diagnostics Group has a one year low of $0.07 and a one year high of $14.25. The stock has a 50 day moving average price of $1.23 and a 200 day moving average price of $1.74.

Interpace Diagnostics Group (NASDAQ:IDXG) last released its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.65) earnings per share for the quarter. Interpace Diagnostics Group had a negative return on equity of 32.06% and a negative net margin of 37.08%. The company had revenue of $3.86 million for the quarter.

A hedge fund recently bought a new stake in Interpace Diagnostics Group stock. Susquehanna International Group LLP purchased a new position in shares of Interpace Diagnostics Group, Inc. (NASDAQ:IDXG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 718,076 shares of the business services provider’s stock, valued at approximately $646,000. Susquehanna International Group LLP owned about 3.84% of Interpace Diagnostics Group as of its most recent SEC filing. Hedge funds and other institutional investors own 7.58% of the company’s stock.

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About Interpace Diagnostics Group

Interpace Diagnostics Group, Inc, formerly PDI, Inc, is focused on developing and commercializing molecular diagnostic tests principally focused on early detection of high potential progressors to cancer and leveraging the latest technology and personalized medicine for patient diagnosis and management.

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