OncoCyte (NYSEAMERICAN:OCX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of OncoCyte (NYSEAMERICAN:OCX) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. They currently have $2.50 price objective on the biotechnology company’s stock.

According to Zacks, “OncoCyte Corporation is primarily focused on the development of novel, non-invasive blood and urine diagnostic tests for detection of cancer. OncoCyte Corporation is based in Alameda, California. “

Other research analysts also recently issued research reports about the company. Benchmark restated a buy rating on shares of OncoCyte in a research note on Wednesday, July 3rd. Chardan Capital set a $8.00 target price on OncoCyte and gave the company a buy rating in a research note on Friday, May 17th. Seven analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and a consensus price target of $6.10.

Shares of OCX stock opened at $2.06 on Wednesday. OncoCyte has a 1-year low of $1.16 and a 1-year high of $6.92.

OncoCyte (NYSEAMERICAN:OCX) last issued its quarterly earnings results on Tuesday, May 14th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01.

In other OncoCyte news, major shareholder Biotime Inc sold 2,250,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $2.00, for a total value of $4,500,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. bought 1,000,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was purchased at an average price of $2.00 per share, for a total transaction of $2,000,000.00. The disclosure for this purchase can be found here.

Large investors have recently made changes to their positions in the business. Perkins Capital Management Inc. acquired a new stake in shares of OncoCyte in the first quarter worth about $99,000. Virtu Financial LLC acquired a new stake in shares of OncoCyte in the first quarter worth about $114,000. Commonwealth Equity Services LLC lifted its position in shares of OncoCyte by 17.3% in the second quarter. Commonwealth Equity Services LLC now owns 35,206 shares of the biotechnology company’s stock worth $87,000 after buying an additional 5,200 shares during the last quarter. Spark Investment Management LLC acquired a new stake in shares of OncoCyte in the first quarter worth about $159,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of OncoCyte in the first quarter worth about $9,836,000.

About OncoCyte

OncoCyte Corporation focuses on the development and commercialization of novel and non-invasive blood and urine (liquid biopsy) diagnostic tests for the early detection of cancer. The company is developing diagnostic tests using genetic and protein markers expressed in various types of cancer. It develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancer.

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