StockNews.com Begins Coverage on OncoCyte (NASDAQ:OCX)

by · The Markets Daily

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

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

Get Our Latest Stock Report on OCX

OncoCyte Trading Down 0.9 %

OncoCyte stock opened at $2.19 on Friday. OncoCyte has a 1-year low of $1.98 and a 1-year high of $3.82. The firm has a 50-day moving average of $2.73 and a 200-day moving average of $2.92.

OncoCyte (NASDAQ:OCX – Get Free Report) last released 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 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 in the prior year, the business posted ($0.57) EPS. On average, analysts expect that OncoCyte will post -2.57 earnings per share for the current year.

Insider Activity

In other OncoCyte news, CFO Andrea S. James acquired 33,670 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $2.97 per share, for a total transaction of $99,999.90. Following the completion of the acquisition, the chief financial officer now owns 33,670 shares in the company, valued at $99,999.90. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at approximately $18,420,994.75. This represents a 26.69 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 1,369,009 shares of company stock worth $4,026,050 in the last quarter. 1.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC increased its position in OncoCyte Co. (NASDAQ:OCX – Free Report) by 12.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 55.35% of the company’s stock.

About OncoCyte

(Get Free Report)

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.

Featured Articles