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

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Saturday morning. The brokerage issued a sell rating on the stock.

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

OncoCyte Stock Down 2.9 %

OCX stock opened at $2.32 on Friday. OncoCyte has a 12 month low of $1.98 and a 12 month high of $3.82. The firm’s 50-day moving average is $2.80 and its 200 day moving average is $2.93.

OncoCyte (NASDAQ:OCX) last posted its quarterly earnings results 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). 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 previous year, the company earned ($0.57) earnings per share. As a group, sell-side analysts predict that OncoCyte will post -2.57 EPS for the current year.

Insider Activity at OncoCyte

In related news, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $2.95 per share, for a total transaction of $3,880,250.05. Following the purchase, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This trade represents a 26.69 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Andrea S. James bought 33,670 shares of the business’s stock in a transaction 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 $99,999.90. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,369,009 shares of company stock valued at $4,026,050 over the last ninety days. 1.58% of the stock is owned by company insiders.

Institutional Trading of OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC increased its position in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,980 shares of the company’s stock after acquiring 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. Hedge funds and other 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.