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

StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a report issued on Tuesday. The firm issued a sell rating on the stock.

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

OncoCyte Stock Performance

Shares of OCX opened at $2.22 on Tuesday. OncoCyte has a fifty-two week low of $1.97 and a fifty-two week high of $3.57. The firm’s 50-day simple moving average is $2.51 and its two-hundred day simple moving average is $2.88.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.12 million during the quarter. During the same quarter in the prior year, the company posted ($0.57) earnings per share. As a group, equities analysts expect that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other OncoCyte news, CFO Andrea S. James bought 20,000 shares of OncoCyte stock in a transaction on Thursday, December 5th. The stock was acquired at an average price of $2.29 per share, with a total value of $45,800.00. Following the acquisition, the chief financial officer now owns 53,670 shares in the company, valued at approximately $122,904.30. This trade represents a 59.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Patrick W. Smith purchased 90,219 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average cost of $2.13 per share, for a total transaction 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 approximately $3,778,413.39. This represents a 5.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 122,719 shares of company stock worth $264,341 in the last three months. Insiders own 1.58% of the company’s stock.

Institutional Trading of OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC boosted its stake in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the period. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 55.35% of the stock is currently owned by institutional investors and hedge funds.

OncoCyte Company Profile

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.