StockNews.com Begins Coverage on OncoCyte (NASDAQ:OCX)

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

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

OncoCyte Trading Down 2.9 %

Shares of OCX opened at $2.38 on Wednesday. OncoCyte has a 52-week low of $1.97 and a 52-week high of $3.82. The firm has a 50-day moving average price of $2.58 and a 200 day moving average price of $2.89.

OncoCyte (NASDAQ:OCX) last posted 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 net margin of 6,122.29% and a negative return on equity of 269.32%. The company had revenue of $0.12 million during the quarter. During the same period in the previous year, the business earned ($0.57) EPS. As a group, sell-side analysts predict that OncoCyte will post -2.57 EPS for the current year.

Insider Activity

In related news, Director Andrew Arno bought 12,500 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $2.11 per share, with a total value of $26,375.00. Following the completion of the transaction, the director now directly owns 81,554 shares of the company’s stock, valued at approximately $172,078.94. This trade represents a 18.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Patrick W. Smith bought 90,219 shares of OncoCyte stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $2.13 per share, with a total value of $192,166.47. Following the completion of the acquisition, the insider now owns 1,773,903 shares of the company’s stock, valued at $3,778,413.39. The trade was a 5.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 122,719 shares of company stock worth $264,341. Corporate 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 boosted its holdings in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the period. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 as of its most recent filing with the Securities and Exchange Commission. 55.35% of the stock is owned by institutional investors.

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.