OncoCyte (NASDAQ:OCX) Now Covered by StockNews.com

Analysts at StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a report released on Saturday. The brokerage set 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 Trading Down 2.9 %

Shares of NASDAQ:OCX opened at $2.32 on Friday. OncoCyte has a 1 year low of $1.98 and a 1 year high of $3.82. The business has a fifty day simple moving average of $2.80 and a 200 day simple moving average of $2.94.

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

Insiders Place Their Bets

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the completion of the transaction, the insider now owns 6,244,405 shares in the company, valued at $18,420,994.75. This trade represents a 26.69 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrea S. James purchased 33,670 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $2.97 per share, for a total transaction of $99,999.90. Following the completion of the transaction, the chief financial officer now owns 33,670 shares of the company’s stock, valued at $99,999.90. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,369,009 shares of company stock valued at $4,026,050 over the last three months. 1.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC increased its position in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Hedge funds and other 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.