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

Equities researchers at StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a report issued on Friday. The firm set a “sell” rating on the stock.

Separately, Needham & Company LLC reiterated a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.06.

OncoCyte Stock Up 0.7 %

OCX stock opened at $2.86 on Friday. The stock’s 50 day simple moving average is $3.05 and its 200 day simple moving average is $2.97. OncoCyte has a 12-month low of $2.29 and a 12-month high of $4.34.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.36) EPS for the quarter. OncoCyte had a negative return on equity of 149.88% and a negative net margin of 3,558.46%. The business had revenue of $0.10 million during the quarter.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of OncoCyte stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the transaction, the insider now directly owns 6,244,405 shares in the company, valued at $18,420,994.75. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Andrea S. James bought 33,670 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 owns 33,670 shares in the company, valued at $99,999.90. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Broadwood Partners, L.P. bought 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 acquisition, the insider now directly owns 6,244,405 shares in the company, valued at $18,420,994.75. This trade represents 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.

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.