OncoCyte (NASDAQ:OCX) Coverage Initiated at StockNews.com

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

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

OncoCyte Stock Performance

Shares of NASDAQ:OCX opened at $2.13 on Thursday. The business has a 50-day moving average price of $2.66 and a 200-day moving average price of $2.91. OncoCyte has a 52-week low of $1.98 and a 52-week high of $3.82.

OncoCyte (NASDAQ:OCX) last announced 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 last year, the firm posted ($0.57) EPS. Analysts forecast that OncoCyte will post -2.57 EPS for the current year.

Insider Activity

In other OncoCyte news, CFO Andrea S. James acquired 33,670 shares of the business’s 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 directly owns 33,670 shares of the company’s stock, valued at $99,999.90. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Arno bought 12,500 shares of OncoCyte stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $2.11 per share, with a total value of $26,375.00. Following the completion of the purchase, the director now owns 81,554 shares in the company, valued at approximately $172,078.94. This trade represents a 18.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,381,509 shares of company stock valued at $4,052,425 in the last three months. 1.58% of the stock is currently owned by corporate insiders.

Institutional Trading of OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC boosted its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 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.