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

Equities researchers at StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the stock.

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

OncoCyte Price Performance

OCX stock opened at $2.29 on Tuesday. The business’s 50-day moving average is $2.53 and its two-hundred day moving average is $2.88. OncoCyte has a fifty-two week low of $1.97 and a fifty-two week high of $3.57.

OncoCyte (NASDAQ:OCX) last posted 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). The business had revenue of $0.12 million during the quarter. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. During the same quarter last year, the firm posted ($0.57) earnings per share. Equities research analysts forecast that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other OncoCyte news, Director Andrew Arno purchased 12,500 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were bought at an average cost of $2.11 per share, with a total value of $26,375.00. Following the acquisition, the director now owns 81,554 shares in the company, valued at approximately $172,078.94. This trade represents a 18.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Patrick W. Smith acquired 90,219 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were bought at an average cost of $2.13 per share, with a total value of $192,166.47. Following the completion of the acquisition, the insider now owns 1,773,903 shares in the company, valued at approximately $3,778,413.39. This represents a 5.36 % 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 Trading of OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC raised its position in shares of 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 buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 as of its most recent SEC filing. Institutional investors own 55.35% of the company’s stock.

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.