OncoCyte (NASDAQ:OCX) Earns Sell Rating from Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a report released on Monday. The firm set a “sell” rating on the stock.

OCX has been the subject of a number of other research reports. Needham & Company LLC restated a “buy” rating and issued a $4.25 price target on shares of OncoCyte in a report on Tuesday, March 25th. Lake Street Capital initiated coverage on OncoCyte in a research note on Friday. They set a “buy” rating and a $5.00 price objective for the company. Finally, Stephens reiterated an “equal weight” rating and set a $4.00 target price on shares of OncoCyte in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, OncoCyte currently has a consensus rating of “Hold” and an average price target of $4.56.

OncoCyte Stock Down 4.7 %

Shares of OCX stock traded down $0.15 during mid-day trading on Monday, hitting $3.06. 68,567 shares of the company’s stock were exchanged, compared to its average volume of 65,149. The stock has a market cap of $87.51 million, a price-to-earnings ratio of -0.70 and a beta of 0.79. OncoCyte has a fifty-two week low of $1.92 and a fifty-two week high of $4.75. The stock has a 50-day simple moving average of $2.81 and a two-hundred day simple moving average of $2.72.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings data on Monday, March 24th. The company reported $0.48 earnings per share 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 business had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.16 million. As a group, analysts anticipate that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of OncoCyte

Several large investors have recently added to or reduced their stakes in the company. Ground Swell Capital LLC purchased a new stake in shares of OncoCyte during the 4th quarter worth about $26,000. Two Sigma Securities LLC bought a new stake in OncoCyte during the fourth quarter worth approximately $31,000. FNY Investment Advisers LLC grew its holdings in 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 purchasing an additional 6,481 shares during the last quarter. Wealthedge Investment Advisors LLC bought a new position in shares of OncoCyte in the fourth quarter valued at approximately $126,000. Finally, Geode Capital Management LLC lifted its stake in shares of OncoCyte by 12.2% in the third quarter. Geode Capital Management LLC now owns 103,980 shares of the company’s stock worth $296,000 after buying an additional 11,289 shares during the last quarter. 55.35% of the stock is owned by institutional investors and hedge funds.

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.