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

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

OCX has been the topic of a number of other reports. Stephens restated an “equal weight” rating and set a $4.00 target price on shares of OncoCyte in a report on Tuesday, March 25th. Lake Street Capital assumed coverage on shares of OncoCyte in a research note on Friday. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.25 target price on shares of OncoCyte in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.56.

OncoCyte Price Performance

Shares of NASDAQ OCX opened at $3.06 on Monday. The stock has a market capitalization of $87.51 million, a price-to-earnings ratio of -0.70 and a beta of 0.79. The business has a 50-day moving average of $2.81 and a 200-day moving average of $2.72. OncoCyte has a fifty-two week low of $1.92 and a fifty-two week high of $4.75.

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

Insider Buying and Selling at OncoCyte

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

Institutional Trading of OncoCyte

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Broadwood Capital Inc. increased its holdings in shares of OncoCyte by 26.7% during the fourth quarter. Broadwood Capital Inc. now owns 6,244,405 shares of the company’s stock worth $14,862,000 after purchasing an additional 1,315,339 shares during the period. Pura Vida Investments LLC grew its position in OncoCyte by 32.1% during the fourth quarter. Pura Vida Investments LLC now owns 654,451 shares of the company’s stock worth $1,558,000 after buying an additional 159,106 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new position in OncoCyte during the 4th quarter worth $126,000. Geode Capital Management LLC raised its holdings in OncoCyte by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 137,069 shares of the company’s stock valued at $326,000 after acquiring an additional 33,089 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of OncoCyte during the 4th quarter valued at $31,000. Institutional investors and hedge funds 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.