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

Stock analysts at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a report released on Wednesday. The firm set a “sell” rating on the stock.

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

OncoCyte Stock Performance

Shares of NASDAQ:OCX opened at $2.38 on Wednesday. The business has a fifty day moving average of $2.59 and a 200-day moving average of $2.89. OncoCyte has a twelve month low of $1.97 and a twelve month high of $3.82.

OncoCyte (NASDAQ:OCX) last posted its quarterly earnings data 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). 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. As a group, research analysts forecast that OncoCyte will post -2.57 earnings per share for the current year.

Insider Buying and Selling

In other OncoCyte news, Director Andrew Arno bought 12,500 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $2.11 per share, for a total transaction of $26,375.00. Following the transaction, the director now owns 81,554 shares of the company’s stock, valued at approximately $172,078.94. The trade was a 18.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrea S. James purchased 20,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was bought at an average cost of $2.29 per share, for a total transaction of $45,800.00. Following the purchase, the chief financial officer now owns 53,670 shares in the company, valued at $122,904.30. This trade represents a 59.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 122,719 shares of company stock worth $264,341 over the last three months. 1.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC raised its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the period. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 as of its most recent filing with the Securities and Exchange Commission. 55.35% of the stock is 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.