OncoCyte (NASDAQ:OCX) Announces Quarterly Earnings Results

OncoCyte (NASDAQ:OCX) announced its quarterly earnings results on Monday. The company reported $0.48 earnings per share for the quarter, Zacks reports. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%.

OncoCyte Stock Performance

Shares of OCX stock traded down $0.07 during trading on Monday, reaching $3.33. The company’s stock had a trading volume of 32,877 shares, compared to its average volume of 85,103. OncoCyte has a one year low of $1.92 and a one year high of $4.75. The business has a fifty day moving average price of $2.68 and a 200-day moving average price of $2.72.

Insider Activity at OncoCyte

In related news, major shareholder Patrick W. Smith purchased 90,219 shares of OncoCyte stock in a transaction that occurred on Thursday, December 26th. The stock was 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 owns 1,773,903 shares of the company’s stock, valued at approximately $3,778,413.39. This trade represents a 5.36 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew Arno purchased 12,500 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was bought at an average price of $2.11 per share, with a total value of $26,375.00. Following the completion of the purchase, the director now owns 81,554 shares of the company’s stock, valued at approximately $172,078.94. This represents a 18.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 1,288,344 shares of company stock valued at $2,649,051. Corporate insiders own 1.58% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on OncoCyte in a report on Monday, January 13th. They set a “sell” rating for the company.

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.