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

Equities researchers at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued to clients and investors on Friday. The firm set a “sell” rating on the stock.

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

OncoCyte Stock Performance

Shares of OCX stock opened at $2.21 on Friday. OncoCyte has a fifty-two week low of $1.98 and a fifty-two week high of $3.82. The company has a 50 day moving average price of $2.75 and a 200 day moving average price of $2.92.

OncoCyte (NASDAQ:OCX) last announced 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 firm earned ($0.57) EPS. On average, equities analysts predict that OncoCyte will post -2.57 earnings per share for the current year.

Insider Activity

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the purchase, the insider now directly owns 6,244,405 shares in the company, valued at $18,420,994.75. This represents a 26.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrea S. James bought 20,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were bought at an average price of $2.29 per share, for a total transaction of $45,800.00. Following the completion of the transaction, the chief financial officer now directly owns 53,670 shares in the company, valued at approximately $122,904.30. This represents a 59.40 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,369,009 shares of company stock valued at $4,026,050 in the last ninety days. 1.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC raised its stake in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. Hedge funds and other 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.