OncoCyte (NASDAQ:OCX) Receives “Equal Weight” Rating from Stephens

Stephens reiterated their equal weight rating on shares of OncoCyte (NASDAQ:OCX) in a report issued on Tuesday,Benzinga reports. They currently have a $4.00 price objective on the stock.

A number of other research firms have also recently commented on OCX. StockNews.com assumed coverage on OncoCyte in a report on Monday, January 13th. They set a “sell” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research report on Tuesday.

OncoCyte Trading Down 8.7 %

Shares of OncoCyte stock opened at $3.04 on Tuesday. OncoCyte has a 12-month low of $1.92 and a 12-month high of $4.75. The firm’s 50-day moving average price is $2.73 and its two-hundred day moving average price is $2.72.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings data on Monday, March 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.88. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The business had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $0.16 million. Equities research analysts anticipate that OncoCyte will post -2.57 EPS for the current year.

Insider Activity at OncoCyte

In related news, CFO Andrea S. James bought 97,561 shares of the business’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $2.05 per share, with a total value of $200,000.05. Following the acquisition, the chief financial officer now owns 151,231 shares of the company’s stock, valued at $310,023.55. This represents a 181.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Patrick W. Smith purchased 1,077,600 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was bought at an average cost of $2.05 per share, with a total value of $2,209,080.00. Following the purchase, the insider now owns 2,872,671 shares of the company’s stock, valued at approximately $5,888,975.55. This trade represents a 60.03 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 1,288,344 shares of company stock worth $2,649,051 in the last quarter. 1.58% of the stock is owned by insiders.

Institutional Investors Weigh In On OncoCyte

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of OncoCyte by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 103,980 shares of the company’s stock valued at $296,000 after purchasing an additional 11,289 shares during the period. FNY Investment Advisers LLC increased its holdings in OncoCyte by 15.1% in the fourth quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock worth $117,000 after purchasing an additional 6,481 shares in the last quarter. Pura Vida Investments LLC lifted its stake in OncoCyte by 32.1% in the fourth quarter. Pura Vida Investments LLC now owns 654,451 shares of the company’s stock valued at $1,558,000 after buying an additional 159,106 shares during the period. Two Sigma Securities LLC bought a new position in shares of OncoCyte during the 4th quarter worth approximately $31,000. Finally, Broadwood Capital Inc. grew its position in shares of OncoCyte by 26.7% during the 4th quarter. Broadwood Capital Inc. now owns 6,244,405 shares of the company’s stock worth $14,862,000 after buying an additional 1,315,339 shares during the period. 55.35% of the stock is currently owned by institutional investors and hedge funds.

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.