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

Investment analysts at StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a report released on Sunday. The brokerage set a “sell” rating on the stock.

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

OncoCyte Stock Performance

NASDAQ OCX opened at $2.45 on Friday. The company’s 50-day moving average price is $2.85 and its 200-day moving average price is $2.95. OncoCyte has a 12 month low of $1.98 and a 12 month high of $3.86.

OncoCyte (NASDAQ:OCX) last posted 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). The company had revenue of $0.12 million during the quarter. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. During the same quarter in the previous year, the firm posted ($0.57) EPS. As a group, equities research analysts expect that OncoCyte will post -2.57 earnings per share for the current year.

Insider Buying and Selling at OncoCyte

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

Hedge Funds Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC lifted its position in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Institutional investors own 55.35% of the company’s stock.

OncoCyte Company Profile

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.