OncoCyte Corp (NYSEAMERICAN:OCX) – Research analysts at Piper Sandler issued their Q2 2020 earnings estimates for OncoCyte in a research report issued on Wednesday, June 24th. Piper Sandler analyst S. Mah forecasts that the biotechnology company will post earnings of ($0.11) per share for the quarter. Piper Sandler currently has a “Neutral” rating on the stock. Piper Sandler also issued estimates for OncoCyte’s Q3 2020 earnings at ($0.11) EPS, Q4 2020 earnings at ($0.12) EPS, FY2020 earnings at ($0.47) EPS, Q1 2021 earnings at ($0.12) EPS, Q2 2021 earnings at ($0.12) EPS, Q3 2021 earnings at ($0.12) EPS, Q4 2021 earnings at ($0.05) EPS, FY2021 earnings at ($0.41) EPS, FY2022 earnings at $0.01 EPS and FY2023 earnings at $0.10 EPS.
Several other brokerages have also recently weighed in on OCX. Chardan Capital cut OncoCyte from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $7.75 to $2.00 in a report on Tuesday. Zacks Investment Research cut OncoCyte from a “hold” rating to a “sell” rating in a report on Tuesday, June 16th. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of OncoCyte in a research report on Wednesday, June 17th. Finally, Lake Street Capital decreased their target price on OncoCyte from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. OncoCyte currently has a consensus rating of “Hold” and an average price target of $4.05.
OncoCyte (NYSEAMERICAN:OCX) last announced its quarterly earnings data on Tuesday, May 12th. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02). The business had revenue of $0.02 million during the quarter.
In related news, major shareholder Broadwood Partners, L.P. bought 1,050,000 shares of the firm’s stock in a transaction dated Friday, April 24th. The stock was bought at an average cost of $2.24 per share, for a total transaction of $2,352,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in shares of OncoCyte by 3.4% in the 4th quarter. State Street Corp now owns 435,208 shares of the biotechnology company’s stock valued at $979,000 after purchasing an additional 14,375 shares during the period. P.A.W. Capital Corp grew its position in shares of OncoCyte by 40.0% in the 1st quarter. P.A.W. Capital Corp now owns 350,000 shares of the biotechnology company’s stock valued at $858,000 after purchasing an additional 100,000 shares during the period. Geode Capital Management LLC grew its position in shares of OncoCyte by 4.7% in the 1st quarter. Geode Capital Management LLC now owns 327,358 shares of the biotechnology company’s stock valued at $802,000 after purchasing an additional 14,593 shares during the period. Phoenix Holdings Ltd. acquired a new position in shares of OncoCyte in the 1st quarter valued at approximately $628,000. Finally, Penbrook Management LLC grew its position in shares of OncoCyte by 21.9% in the 1st quarter. Penbrook Management LLC now owns 215,625 shares of the biotechnology company’s stock valued at $529,000 after purchasing an additional 38,747 shares during the period.
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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