Needham & Company LLC Reaffirms Buy Rating for OncoCyte (NASDAQ:OCX)

Needham & Company LLC reaffirmed their buy rating on shares of OncoCyte (NASDAQ:OCX) in a research report sent to investors on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $4.25 price objective on the stock.

Separately, StockNews.com started coverage on OncoCyte in a report on Tuesday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, OncoCyte currently has a consensus rating of “Hold” and an average target price of $4.06.

OncoCyte Stock Up 0.3 %

NASDAQ OCX opened at $3.12 on Tuesday. The company has a 50-day moving average price of $3.07 and a 200-day moving average price of $2.94. OncoCyte has a 52 week low of $2.08 and a 52 week high of $4.34.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.36) earnings per share for the quarter. OncoCyte had a negative return on equity of 149.88% and a negative net margin of 3,558.46%. The business had revenue of $0.10 million during the quarter.

Insider Activity

In other OncoCyte news, CFO Andrea S. James purchased 33,670 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $2.97 per share, for a total transaction of $99,999.90. Following the purchase, the chief financial officer now owns 33,670 shares of the company’s stock, valued at approximately $99,999.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of OncoCyte stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the transaction, the insider now directly owns 6,244,405 shares in the company, valued at approximately $18,420,994.75. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrea S. James bought 33,670 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 33,670 shares of the company’s stock, valued at $99,999.90. The disclosure for this purchase can be found here. Insiders own 1.94% 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.