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

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

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

OncoCyte Trading Down 2.6 %

NASDAQ OCX opened at $2.64 on Tuesday. OncoCyte has a 1 year low of $2.29 and a 1 year high of $4.30. The firm’s 50 day simple moving average is $2.97 and its 200 day simple moving average is $2.98.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.54). The business had revenue of $0.12 million during the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. During the same quarter last year, the firm posted ($0.57) EPS.

Insiders Place Their Bets

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the acquisition, the insider now owns 6,244,405 shares in the company, valued at approximately $18,420,994.75. This trade represents a 26.69 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrea S. James acquired 33,670 shares of OncoCyte stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired 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 $99,999.90. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC lifted its stake in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission. 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.