StockNews.com Begins Coverage on OncoCyte (NASDAQ:OCX)

Analysts at StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued on Thursday. The brokerage set a “sell” rating on the stock.

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

OncoCyte Stock Down 1.4 %

OCX opened at $2.16 on Thursday. OncoCyte has a fifty-two week low of $1.98 and a fifty-two week high of $3.82. The business has a 50-day moving average of $2.66 and a 200-day moving average of $2.91.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate 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 business had revenue of $0.12 million for the quarter. During the same quarter last year, the business posted ($0.57) EPS. As a group, sell-side analysts anticipate that OncoCyte will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Andrea S. James acquired 33,670 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost 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 $99,999.90. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were purchased 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 in the company, valued at approximately $18,420,994.75. The trade was a 26.69 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,369,009 shares of company stock worth $4,026,050 in the last 90 days. Corporate insiders own 1.58% of the company’s stock.

Institutional Trading of OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC lifted its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the period. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Hedge funds and other 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.