WaferGen Bio-systems, Inc. (NASDAQ:WGBS) was another stock gaining momentum in the current trading session, on the back of positive results from its Single-Cell system. The genetic analysis platform company demonstrated the efficiency of its platform at the Single Cell Genomics conference held in Utrecht, the Netherlands. The main highlights of the demonstration was its ability to isolate up to 1,800 cells per chip and process them for further analysis with Next Generation Sequencing (NGS) technology. One of the experts at the conference called it a “promising new technology for high throughput single cell analyses”. WaferGen’s system has shown promising results in identifying targeted cells among complex cell samples.
The stock of WaferGen Bio-systems, Inc. (NASDAQ:WGBS) has had a rough year so far, with its shares declining by 42.86% year-to-date. The stock has received an average rating of ‘Strong Buy’ from the two analysts that cover it, along with a one-year price target of $8.50, indicating an upside potential of nearly 378%. The genetic platform company reported its second quarter 2015 financial results on August 5, announcing a loss per share of $0.67 over net revenues of $1.6 million. The analysts were expecting quarterly revenues of $2.10 million along with a loss per share of $0.65. Its quarterly revenue dropped by 5.80% on a year-over-year basis because of lower sales of its SmartChip capital equipment. The gross profit margins of WaferGen Bio-systems did improve by 2% year-over-year to 58% during the second quarter. Among the hedge funds that we track at Insider Monkey, John Zaro’s Bourgeon Capital had a large stake in the company at the end of the second quarter, including 50,100 shares valued at $158,000.