OncoCyte (NASDAQ:OCX) Now Covered by Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a report issued on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $5.00 target price on the stock.

A number of other research firms have also weighed in on OCX. StockNews.com started coverage on OncoCyte in a research report on Monday, January 13th. They issued a “sell” rating for the company. Stephens restated an “equal weight” rating and issued a $4.00 price target on shares of OncoCyte in a research report on Tuesday, March 25th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.56.

OncoCyte Trading Down 0.3 %

Shares of NASDAQ OCX opened at $3.21 on Friday. OncoCyte has a twelve month low of $1.92 and a twelve month high of $4.75. The firm has a 50-day moving average of $2.79 and a two-hundred day moving average of $2.72. The company has a market capitalization of $56.02 million, a price-to-earnings ratio of -0.73 and a beta of 0.79.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OCX. Broadwood Capital Inc. increased its stake in shares of OncoCyte by 26.7% in the fourth quarter. Broadwood Capital Inc. now owns 6,244,405 shares of the company’s stock worth $14,862,000 after purchasing an additional 1,315,339 shares during the period. Pura Vida Investments LLC increased its position in OncoCyte by 32.1% during the fourth quarter. Pura Vida Investments LLC now owns 654,451 shares of the company’s stock worth $1,558,000 after acquiring an additional 159,106 shares during the period. Geode Capital Management LLC boosted its holdings in OncoCyte by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 137,069 shares of the company’s stock valued at $326,000 after purchasing an additional 33,089 shares during the period. Wealthedge Investment Advisors LLC acquired a new stake in OncoCyte in the 4th quarter worth $126,000. Finally, FNY Investment Advisers LLC raised its position 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 valued at $117,000 after buying an additional 6,481 shares during the last quarter. 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.