OncoCyte’s (OCX) “Equal Weight” Rating Reaffirmed at Stephens

OncoCyte (NASDAQ:OCX)‘s stock had its “equal weight” rating reiterated by research analysts at Stephens in a report issued on Tuesday,Benzinga reports. They presently have a $4.00 target price on the stock. Stephens’ price target points to a potential upside of 25.79% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. StockNews.com assumed coverage on shares of OncoCyte in a research note on Monday, January 13th. They set a “sell” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $4.25 price target on shares of OncoCyte in a research note on Tuesday.

OncoCyte Stock Up 4.6 %

OCX opened at $3.18 on Tuesday. OncoCyte has a 52 week low of $1.92 and a 52 week high of $4.75. The business has a fifty day simple moving average of $2.74 and a 200-day simple moving average of $2.72. The firm has a market cap of $55.50 million, a P/E ratio of -0.72 and a beta of 0.79.

OncoCyte (NASDAQ:OCX) last announced its earnings results on Monday, March 24th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.88. The company had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $0.16 million. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. Sell-side analysts expect that OncoCyte will post -2.57 earnings per share for the current year.

Insider Transactions at OncoCyte

In other news, CFO Andrea S. James acquired 97,561 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $2.05 per share, with a total value of $200,000.05. Following the transaction, the chief financial officer now owns 151,231 shares in the company, valued at approximately $310,023.55. This trade represents a 181.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Patrick W. Smith bought 1,077,600 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $2.05 per share, for a total transaction of $2,209,080.00. Following the acquisition, the insider now directly owns 2,872,671 shares of the company’s stock, valued at $5,888,975.55. The trade was a 60.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,185,625 shares of company stock valued at $2,430,510. 1.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OncoCyte

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ground Swell Capital LLC acquired a new stake in OncoCyte during the 4th quarter worth $26,000. Two Sigma Securities LLC acquired a new stake in shares of OncoCyte in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC grew its stake in OncoCyte by 15.1% during the 4th quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock worth $117,000 after buying an additional 6,481 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new position in OncoCyte during the fourth quarter worth approximately $126,000. Finally, Geode Capital Management LLC increased its position in OncoCyte by 12.2% during 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 period. Institutional investors and hedge funds own 55.35% of the company’s stock.

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.