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 Wednesday morning. The brokerage issued a sell rating on the stock.

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

OncoCyte Stock Performance

OncoCyte stock opened at $2.71 on Wednesday. OncoCyte has a fifty-two week low of $2.29 and a fifty-two week high of $4.30. The company’s 50-day moving average is $2.97 and its 200-day moving average is $2.98.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.12 million for the quarter. During the same quarter in the previous year, the business posted ($0.57) earnings per share.

Insiders Place Their Bets

In other OncoCyte news, CFO Andrea S. James bought 33,670 shares of OncoCyte stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $2.97 per share, with a total value of $99,999.90. Following the completion of the transaction, the chief financial officer now owns 33,670 shares in the company, valued at $99,999.90. The trade was a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average cost 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 of the company’s stock, 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.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC raised its stake in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,980 shares of the company’s stock after acquiring 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. 55.35% of the stock is currently owned by hedge funds and other institutional investors.

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.