OncoCyte (NASDAQ:OCX) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research report report published on Thursday morning. The brokerage issued a sell rating on the stock.

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

OncoCyte Stock Performance

Shares of NASDAQ OCX opened at $2.61 on Thursday. OncoCyte has a fifty-two week low of $2.29 and a fifty-two week high of $4.34. The company’s 50 day simple moving average is $3.02 and its 200 day simple moving average is $2.98.

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

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. bought 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, for a total transaction of $3,880,250.05. Following the acquisition, the insider now owns 6,244,405 shares of the company’s stock, valued at approximately $18,420,994.75. This represents a 26.69 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrea S. James purchased 33,670 shares of OncoCyte stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $2.97 per share, with a total value of $99,999.90. Following the acquisition, the chief financial officer now directly owns 33,670 shares of the company’s stock, valued at approximately $99,999.90. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC boosted its position in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the period. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 55.35% of the stock is currently owned by institutional investors and hedge funds.

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.