OncoCyte (NASDAQ:OCX) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a report published on Wednesday. The firm issued a sell rating on the stock.

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

OncoCyte Trading Up 1.7 %

Shares of OCX stock opened at $2.37 on Wednesday. The business’s fifty day moving average is $2.55 and its 200-day moving average is $2.88. OncoCyte has a 1 year low of $1.97 and a 1 year high of $3.57.

OncoCyte (NASDAQ:OCX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). The business had revenue of $0.12 million for the quarter. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. During the same period last year, the firm earned ($0.57) EPS. As a group, sell-side analysts expect that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insider Activity at OncoCyte

In other OncoCyte news, major shareholder Patrick W. Smith bought 90,219 shares of the stock in a transaction on Thursday, December 26th. The shares were purchased at an average cost of $2.13 per share, with a total value of $192,166.47. Following the completion of the transaction, the insider now directly owns 1,773,903 shares of the company’s stock, valued at $3,778,413.39. This represents a 5.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrea S. James purchased 20,000 shares of OncoCyte stock in a transaction on Thursday, December 5th. The stock was bought at an average cost of $2.29 per share, with a total value of $45,800.00. Following the transaction, the chief financial officer now directly owns 53,670 shares of the company’s stock, valued at approximately $122,904.30. The trade was a 59.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 122,719 shares of company stock valued at $264,341. Corporate insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On OncoCyte

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% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Institutional investors and hedge funds own 55.35% of the company’s stock.

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.