OncoCyte (NASDAQ:OCX) Earns “Buy” Rating from Needham & Company LLC

OncoCyte (NASDAQ:OCX)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $4.25 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 51.79% from the company’s current price.

Separately, StockNews.com began coverage on shares of OncoCyte in a research report on Friday, November 8th. They issued a “sell” rating for the company.

OncoCyte Trading Down 4.8 %

Shares of OncoCyte stock opened at $2.80 on Wednesday. The business has a 50-day moving average price of $3.03 and a two-hundred day moving average price of $2.98. OncoCyte has a 1-year low of $2.29 and a 1-year high of $4.34.

OncoCyte (NASDAQ:OCX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.54). The company had revenue of $0.12 million during the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 237.81%. During the same period in the prior year, the business posted ($0.57) earnings per share.

Insider Buying and Selling at OncoCyte

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $2.95 per share, with a total value of $3,880,250.05. Following the completion of the transaction, the insider now directly owns 6,244,405 shares in the company, valued at approximately $18,420,994.75. This trade represents a 26.69 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrea S. James acquired 33,670 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $2.97 per share, with a total value of $99,999.90. Following the completion of the acquisition, the chief financial officer now owns 33,670 shares in the company, valued at $99,999.90. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.58% 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.