OncoCyte (NASDAQ:OCX) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research report released on Tuesday. The brokerage issued a sell rating on the stock.

Separately, Needham & Company LLC restated a “buy” rating and issued a $4.25 price objective on shares of OncoCyte in a report on Wednesday, November 13th.

OncoCyte Price Performance

NASDAQ OCX opened at $2.44 on Tuesday. The company has a fifty day moving average of $2.93 and a two-hundred day moving average of $2.97. OncoCyte has a 52 week low of $2.00 and a 52 week high of $3.98.

OncoCyte (NASDAQ:OCX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). The company had revenue of $0.12 million for the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. During the same period in the prior year, the company earned ($0.57) earnings per share.

Insider Activity

In other news, CFO Andrea S. James bought 33,670 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average price of $2.97 per share, for a total transaction of $99,999.90. Following the completion of the transaction, the chief financial officer now directly owns 33,670 shares in the company, valued at approximately $99,999.90. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the transaction, the insider now owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. The trade was a 26.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC grew its stake in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the period. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. 55.35% of the stock is owned by hedge funds and other institutional investors.

About OncoCyte

OncoCyte Corporation, a precision diagnostics company, focuses on development and commercialization of proprietary tests in the United States and internationally. The company is developing DetermaIO, a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies; DetermaCNI, a blood-based monitoring tool for monitoring therapeutic efficacy in cancer patients; and VitaGraft, a blood-based solid organ transplantation monitoring test.