Needham & Company LLC Reaffirms Buy Rating for OncoCyte (NASDAQ:OCX)

OncoCyte (NASDAQ:OCX)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $4.25 price objective on the stock. Needham & Company LLC’s price objective suggests a potential upside of 51.79% from the company’s current price.

Separately, StockNews.com started coverage on shares of OncoCyte in a research note on Friday, November 8th. They issued a “sell” rating for the company.

OncoCyte Stock Performance

NASDAQ:OCX opened at $2.80 on Wednesday. OncoCyte has a 12-month low of $2.29 and a 12-month high of $4.34. The stock’s 50 day moving average price is $3.03 and its two-hundred day moving average price is $2.98.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.54). OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 237.81%. The company had revenue of $0.12 million during the quarter. During the same quarter in the previous year, the firm earned ($0.57) earnings per share.

Insider Buying and Selling at OncoCyte

In other news, CFO Andrea S. James purchased 33,670 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $2.97 per share, for a total transaction of $99,999.90. Following the purchase, the chief financial officer now owns 33,670 shares of the company’s stock, valued at approximately $99,999.90. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the acquisition, the insider now owns 6,244,405 shares in the company, valued at approximately $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. Company insiders own 1.58% 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.