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

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

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

OncoCyte Price Performance

Shares of NASDAQ OCX opened at $2.45 on Friday. The firm’s 50-day moving average price is $2.85 and its two-hundred day moving average price is $2.95. OncoCyte has a 52-week low of $1.98 and a 52-week high of $3.86.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings results 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 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 last year, the business posted ($0.57) earnings per share. On average, analysts predict that OncoCyte will post -2.57 EPS for the current year.

Insider Activity at OncoCyte

In other news, CFO Andrea S. James bought 33,670 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was purchased 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 approximately $99,999.90. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the transaction, the insider now owns 6,244,405 shares in the company, valued at $18,420,994.75. This trade represents a 26.69 % increase in their position. The disclosure for this purchase can be found here. Company 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 lifted its stake in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to its most recent disclosure 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 approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Institutional investors 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.