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

StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a research report report published on Thursday. The brokerage issued a sell rating on the stock.

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

OncoCyte Price Performance

Shares of OCX stock opened at $2.11 on Thursday. The stock’s 50-day simple moving average is $2.62 and its 200-day simple moving average is $2.90. OncoCyte has a fifty-two week low of $1.97 and a fifty-two week high of $3.82.

OncoCyte (NASDAQ:OCX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.98) earnings per share 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 quarter in the prior year, the company earned ($0.57) earnings per share. As a group, equities analysts predict that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrew Arno purchased 12,500 shares of OncoCyte stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $2.11 per share, for a total transaction of $26,375.00. Following the transaction, the director now owns 81,554 shares in the company, valued at approximately $172,078.94. The trade was a 18.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the 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 acquisition, 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 disclosure for this purchase can be found here. Insiders bought 1,381,509 shares of company stock valued at $4,052,425 over the last ninety days. Corporate insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC raised its position in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the period. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 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.