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

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a note issued to investors on Saturday. The firm set 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 research note on Wednesday, November 13th.

OncoCyte Price Performance

Shares of OCX stock opened at $2.32 on Friday. OncoCyte has a 12-month low of $1.98 and a 12-month high of $3.82. The business has a 50 day simple moving average of $2.80 and a 200 day simple moving average of $2.94.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) 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 during the quarter. During the same period last year, the business earned ($0.57) earnings per share. Equities research analysts anticipate that OncoCyte will post -2.57 EPS for the current year.

Insider Buying and Selling at OncoCyte

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

Institutional Trading of OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC grew its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 55.35% of the stock is currently owned by institutional investors and hedge funds.

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.