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

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

Separately, Needham & Company LLC reaffirmed 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 NASDAQ OCX opened at $2.29 on Tuesday. The stock’s 50-day simple moving average is $2.53 and its two-hundred day simple moving average is $2.88. OncoCyte has a twelve month low of $1.97 and a twelve month high of $3.57.

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). 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 period in the previous year, the company posted ($0.57) earnings per share. On average, equities analysts anticipate that OncoCyte will post -2.57 EPS for the current fiscal year.

Insider Buying and Selling at OncoCyte

In related news, Director Andrew Arno bought 12,500 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $2.11 per share, with a total value of $26,375.00. Following the completion of the acquisition, the director now owns 81,554 shares of the company’s stock, valued at $172,078.94. The trade was a 18.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrea S. James purchased 20,000 shares of OncoCyte stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $2.29 per share, with a total value of $45,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 53,670 shares of the company’s stock, valued at approximately $122,904.30. This represents a 59.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 122,719 shares of company stock valued at $264,341. 1.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC increased its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 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.