OncoCyte (NASDAQ:OCX) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a report issued on Saturday morning. The firm issued a sell rating on the stock.

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

OncoCyte Trading Down 4.3 %

Shares of NASDAQ:OCX opened at $2.22 on Friday. The stock has a 50 day moving average of $2.78 and a 200 day moving average of $2.93. OncoCyte has a 12-month low of $1.98 and a 12-month high of $3.82.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.54). The business had revenue of $0.12 million for the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. During the same period in the prior year, the business earned ($0.57) EPS. As a group, research analysts expect that OncoCyte will post -2.57 earnings per share for the current year.

Insider Activity

In related news, CFO Andrea S. James acquired 33,670 shares of OncoCyte stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average cost of $2.97 per share, with a total value of $99,999.90. Following the purchase, the chief financial officer now directly owns 33,670 shares in the company, valued at approximately $99,999.90. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the stock in a transaction dated 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 acquisition, the insider now owns 6,244,405 shares of the company’s stock, valued at approximately $18,420,994.75. This represents a 26.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,369,009 shares of company stock valued at $4,026,050 in the last quarter. Insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC grew its holdings 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 & Exchange Commission. The firm owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.