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

Investment analysts at StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued to clients and investors on Monday. The firm set a “sell” rating on the stock.

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

OncoCyte Price Performance

Shares of NASDAQ OCX opened at $2.41 on Monday. OncoCyte has a 1 year low of $2.00 and a 1 year high of $3.98. The firm has a fifty day moving average price of $2.89 and a 200-day moving average price of $2.96.

OncoCyte (NASDAQ:OCX) last announced 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 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 269.32%. During the same period in the prior year, the business posted ($0.57) earnings per share.

Insider Activity at OncoCyte

In other news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the purchase, the insider now owns 6,244,405 shares in the company, valued at approximately $18,420,994.75. This trade represents a 26.69 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrea S. James bought 33,670 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average cost of $2.97 per share, for a total transaction of $99,999.90. Following the purchase, the chief financial officer now owns 33,670 shares of the company’s stock, valued at approximately $99,999.90. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.58% of the stock is owned by insiders.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC lifted its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the period. Geode Capital Management LLC owned 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.