OncoCyte’s (OCX) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of OncoCyte (NASDAQ:OCX) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $4.25 target price on the stock.

Separately, StockNews.com began coverage on OncoCyte in a research report on Friday, November 8th. They set a “sell” rating on the stock.

OncoCyte Stock Performance

Shares of OCX stock opened at $2.94 on Wednesday. OncoCyte has a 1-year low of $2.29 and a 1-year high of $4.34. The business has a 50-day moving average of $3.04 and a 200 day moving average of $2.98.

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 analysts’ consensus estimates of ($0.44) by ($0.54). The company had revenue of $0.12 million for the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 237.81%. During the same period in the previous year, the business posted ($0.57) earnings per share.

Insider Activity

In other news, CFO Andrea S. James acquired 33,670 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average price of $2.97 per share, with a total value of $99,999.90. Following the completion of the purchase, the chief financial officer now directly owns 33,670 shares in the company, valued at $99,999.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Andrea S. James bought 33,670 shares of OncoCyte stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $2.97 per share, for a total transaction of $99,999.90. Following the purchase, the chief financial officer now directly owns 33,670 shares of the company’s stock, valued at approximately $99,999.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of OncoCyte stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price 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 in the company, valued at approximately $18,420,994.75. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.58% 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.