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

StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the stock.

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

OncoCyte Stock Down 0.9 %

OncoCyte stock opened at $2.19 on Friday. OncoCyte has a one year low of $1.98 and a one year high of $3.82. The business has a fifty day moving average price of $2.71 and a 200-day moving average price of $2.92.

OncoCyte (NASDAQ:OCX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.98) 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 period in the prior year, the company posted ($0.57) EPS. On average, research analysts predict that OncoCyte will post -2.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the stock in a transaction on Wednesday, October 2nd. The shares were acquired 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 directly owns 6,244,405 shares of the company’s stock, valued at approximately $18,420,994.75. This trade represents a 26.69 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CFO Andrea S. James acquired 20,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was purchased at an average price of $2.29 per share, with a total value of $45,800.00. Following the completion of the acquisition, 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 worth $4,026,050 in the last ninety days. 1.58% of the stock is currently owned by insiders.

Institutional Trading of OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC boosted its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 reporting period. 55.35% of the stock is owned by hedge funds and other institutional investors.

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.