What is biocept's all-time high and low prices?
The all-time high Biocept stock closing price was 8649.51 on February 18, 2014. The Biocept 52-week high stock price is 6.40, which is 218.4% above the current share price. The Biocept 52-week low stock price is 1.89, which is 6% below the current share price. The average Biocept stock price for the last 52 weeks is 3.91.
How many shares are in biocept stock?
Each unit consists of one share of Series A convertible preferred stock (which could be immediately converted into Biocept stock at a price of $4.53 per share) and 220 warrants to buy additional Biocept shares at $4.53 per share. Image source: Getty Images. If all this sounds complicated, it's because it is pretty complicated.
What's wrong with biocept's rights offering?
One negative about Biocept's rights offering is that the subscription rights are non-transferable, which means that investors can't sell their rights to someone else. There's also a tight window for when the rights can be exercised -- between July 24, 2018, and Aug. 8, 2018.
When can biocept's rights be exercised?
There's also a tight window for when the rights can be exercised -- between July 24, 2018, and Aug. 8, 2018. Biocept needed to do something to raise cash, though -- and fast.
Is biocept a good stock?
Biocept has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.
Will Bioc reverse split?
Biocept's common shares will continue to trade under the ticker symbol "BIOC." Authorization for the reverse stock split was approved by the Company's stockholders at Biocept's 2020 Annual Meeting of Stockholders.
Will biocept stock recover?
Biocept holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks....Predicted Opening Price for Biocept of Tuesday, July 12, 2022.Fair opening price July 12, 2022Current price$1.02$1.03 (Overvalued)
How much cash did Biocept lose?
The company had less than $2.2 million in cash as of March 31, 2018. Biocept continues to lose at least $5.6 million each quarter. The rights offering provided a way to generate some additional cash in a hurry.
Is Biocept subscription non-transferable?
One negative about Biocept's rights offering is that the subscription rights are non-transferable, which means that investors can't sell their rights to someone else. There's also a tight window for when the rights can be exercised -- between July 24, 2018, and Aug. 8, 2018.
Can Biocept shareholders exercise their subscription rights?
Now what. Current Biocept shareholders will have to soon decide what to do with their subscription rights. They can exercise them, which means shelling out more money to buy Biocept preferred stock. The other option is to let the rights expire. Which step should be taken depends on your view of the company's prospects.
Shares of the small molecular diagnostics specialist took a beating after it announced an infrequently used method to raise cash
Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights
What happened
Shares of small molecular diagnostics company Biocept, Inc. ( NASDAQ:BIOC) are plummeting today, down 21.5% as of 11:53 a.m. EDT, following its announcement of a proposed rights offering. The decline marked a quick change of direction after Biocept's share price more than doubled on Wednesday.
So what
If all this sounds complicated, it's because it is pretty complicated. Rights offerings are one of several ways for companies to raise cash. However, they're not used as nearly as frequently as stock offerings. A key advantage of a rights offering compared to a stock offering is that it doesn't cause dilution of the value in existing shares.
Now what
Current Biocept shareholders will have to soon decide what to do with their subscription rights. They can exercise them, which means shelling out more money to buy Biocept preferred stock. The other option is to let the rights expire. Which step should be taken depends on your view of the company's prospects.