OncoCyte (NASDAQ:OCX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of OncoCyte (NASDAQ:OCX) in a report issued on Wednesday,Benzinga reports. They currently have a $4.25 price objective on the stock.

Separately, StockNews.com started coverage on OncoCyte in a research report on Friday, November 8th. They issued a “sell” rating for the company.

OncoCyte Trading Down 6.8 %

Shares of NASDAQ OCX traded down $0.19 during trading hours on Wednesday, hitting $2.61. The stock had a trading volume of 57,289 shares, compared to its average volume of 39,399. The firm’s 50-day moving average price is $3.02 and its two-hundred day moving average price is $2.98. OncoCyte has a 52 week low of $2.29 and a 52 week high of $4.34.

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

Insider Activity at OncoCyte

In related news, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average cost of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the purchase, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. The trade was a 26.69 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrea S. James acquired 33,670 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $2.97 per share, with a total value of $99,999.90. Following the completion of the purchase, the chief financial officer now directly owns 33,670 shares of the company’s stock, valued at approximately $99,999.90. This 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 corporate insiders.

Institutional Trading of OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC grew its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned approximately 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.

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.