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

Analysts at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a report released on Sunday. The firm set a “sell” rating on the stock.

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

OncoCyte Stock Performance

Shares of OCX stock opened at $2.46 on Friday. OncoCyte has a one year low of $1.98 and a one year high of $3.82. The firm’s 50 day moving average price is $2.85 and its 200-day moving average price is $2.95.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The firm had revenue of $0.12 million for the quarter. During the same quarter last year, the business earned ($0.57) EPS. On average, research analysts forecast that OncoCyte will post -2.57 earnings per share for the current year.

Insider Buying and Selling at OncoCyte

In related news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the acquisition, the insider now directly owns 6,244,405 shares in the company, valued at $18,420,994.75. This trade represents a 26.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andrea S. James acquired 20,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was bought at an average price of $2.29 per share, with a total value of $45,800.00. Following the purchase, the chief financial officer now directly owns 53,670 shares in the company, valued at approximately $122,904.30. This trade represents a 59.40 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 1,369,009 shares of company stock valued at $4,026,050 in the last 90 days. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC raised its holdings in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 55.35% of the company’s stock.

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.