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

Stock analysts at StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a note issued to investors on Sunday. The firm set a “sell” rating on the stock.

A number of other research analysts have also recently commented on OCX. Stephens reissued an “equal weight” rating and issued a $4.00 target price on shares of OncoCyte in a research note on Wednesday, April 17th. Benchmark reissued a “speculative buy” rating and set a $5.00 price objective on shares of OncoCyte in a report on Monday, April 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.25 target price on shares of OncoCyte in a research note on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.06.

OncoCyte Price Performance

Shares of NASDAQ OCX opened at $2.83 on Friday. The business has a 50-day moving average of $2.71 and a 200-day moving average of $2.91. OncoCyte has a 12 month low of $2.08 and a 12 month high of $4.86.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($1.13) EPS for the quarter. The company had revenue of $0.18 million during the quarter. OncoCyte had a negative return on equity of 135.45% and a negative net margin of 2,905.14%. Analysts predict that OncoCyte will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrew Arno purchased 33,898 shares of OncoCyte stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average price of $2.95 per share, for a total transaction of $99,999.10. Following the completion of the transaction, the director now directly owns 69,054 shares of the company’s stock, valued at $203,709.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andrew Arno purchased 33,898 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $2.95 per share, for a total transaction of $99,999.10. Following the completion of the transaction, the director now directly owns 69,054 shares of the company’s stock, valued at approximately $203,709.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of OncoCyte stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $2.92 per share, for a total transaction of $7,066,400.00. Following the completion of the purchase, the insider now owns 4,929,066 shares of the company’s stock, valued at $14,392,872.72. The disclosure for this purchase can be found here. Insiders acquired 2,457,288 shares of company stock valued at $7,176,400 over the last quarter. 1.94% of the stock is owned by company insiders.

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.