OncoCyte (NASDAQ:OCX) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Saturday. The firm set a “sell” rating on the stock.

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

OncoCyte Stock Performance

Shares of OCX opened at $2.32 on Friday. The company’s 50 day simple moving average is $2.80 and its 200-day simple moving average is $2.93. OncoCyte has a 12-month low of $1.98 and a 12-month high of $3.82.

OncoCyte (NASDAQ:OCX) last released its quarterly 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 return on equity of 269.32% and a negative net margin of 6,122.29%. During the same quarter in the prior year, the company posted ($0.57) earnings per share. As a group, analysts expect that OncoCyte will post -2.57 earnings per share for the current year.

Insider Transactions at OncoCyte

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of OncoCyte stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $2.95 per share, with a total value of $3,880,250.05. Following the purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were acquired at an average price of $2.29 per share, for a total transaction of $45,800.00. Following the acquisition, the chief financial officer now directly owns 53,670 shares of the company’s stock, valued at approximately $122,904.30. The trade was a 59.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,369,009 shares of company stock valued at $4,026,050 over the last three months. 1.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC boosted its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the quarter. Geode Capital Management LLC owned 0.62% of OncoCyte worth $296,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.