OncoCyte (NASDAQ:OCX) Earns Sell Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a note issued to investors on Tuesday. The firm set a “sell” rating on the stock.

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

OncoCyte Price Performance

NASDAQ OCX opened at $2.23 on Tuesday. The stock has a 50-day simple moving average of $2.50 and a 200 day simple moving average of $2.87. OncoCyte has a twelve month low of $1.97 and a twelve month high of $3.57.

OncoCyte (NASDAQ:OCX) last issued 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). OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The business had revenue of $0.12 million for the quarter. During the same period in the previous year, the business posted ($0.57) EPS. As a group, analysts predict that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insider Activity

In other OncoCyte news, major shareholder Patrick W. Smith purchased 90,219 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average price of $2.13 per share, for a total transaction of $192,166.47. Following the completion of the purchase, the insider now directly owns 1,773,903 shares in the company, valued at approximately $3,778,413.39. This trade represents a 5.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Arno acquired 12,500 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average price of $2.11 per share, for a total transaction of $26,375.00. Following the completion of the purchase, the director now owns 81,554 shares in the company, valued at approximately $172,078.94. This trade represents a 18.10 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 122,719 shares of company stock worth $264,341. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

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