OncoCyte’s (OCX) “Equal Weight” Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of OncoCyte (NASDAQ:OCX) in a report released on Tuesday,Benzinga reports. The firm currently has a $4.00 price target on the stock.

A number of other equities research analysts also recently issued reports on OCX. Needham & Company LLC reissued a “buy” rating and issued a $4.25 price target on shares of OncoCyte in a research note on Tuesday. StockNews.com began coverage on OncoCyte in a research report on Monday, January 13th. They issued a “sell” rating on the stock.

OncoCyte Stock Performance

NASDAQ OCX opened at $3.22 on Tuesday. The stock’s fifty day moving average is $2.77 and its two-hundred day moving average is $2.73. The firm has a market capitalization of $56.20 million, a P/E ratio of -0.73 and a beta of 0.79. OncoCyte has a fifty-two week low of $1.92 and a fifty-two week high of $4.75.

OncoCyte (NASDAQ:OCX) last posted its earnings results on Monday, March 24th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.88. The company had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.16 million. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. As a group, sell-side analysts forecast that OncoCyte will post -2.57 EPS for the current year.

Insider Buying and Selling at OncoCyte

In other news, major shareholder Patrick W. Smith acquired 1,077,600 shares of OncoCyte stock in a transaction on Friday, February 7th. The stock was bought at an average price of $2.05 per share, for a total transaction of $2,209,080.00. Following the completion of the purchase, the insider now owns 2,872,671 shares in the company, valued at $5,888,975.55. This represents a 60.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrea S. James acquired 97,561 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $2.05 per share, with a total value of $200,000.05. Following the completion of the acquisition, the chief financial officer now directly owns 151,231 shares of the company’s stock, valued at approximately $310,023.55. This trade represents a 181.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 1,185,625 shares of company stock worth $2,430,510 over the last three months. Insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On OncoCyte

A number of hedge funds and other institutional investors have recently made changes to their positions in OCX. Ground Swell Capital LLC purchased a new position in OncoCyte in the 4th quarter valued at $26,000. Two Sigma Securities LLC purchased a new stake in shares of OncoCyte in the fourth quarter valued at about $31,000. FNY Investment Advisers LLC increased its stake in shares of OncoCyte by 15.1% during the fourth quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock worth $117,000 after acquiring an additional 6,481 shares during the period. Wealthedge Investment Advisors LLC purchased a new position in OncoCyte during the fourth quarter worth about $126,000. Finally, Geode Capital Management LLC lifted its position in OncoCyte by 12.2% in the third 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. Hedge funds and other 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.