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

StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research note released on Thursday morning. The firm issued a sell rating on the stock.

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

OncoCyte Price Performance

NASDAQ OCX opened at $2.61 on Thursday. The stock has a 50-day simple moving average of $3.02 and a 200 day simple moving average of $2.98. OncoCyte has a twelve month low of $2.29 and a twelve month high of $4.34.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). The business had revenue of $0.12 million for the quarter. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. During the same period in the previous year, the business posted ($0.57) EPS.

Insider Buying and Selling at OncoCyte

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

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC increased its stake in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing. 55.35% of the stock is currently owned by hedge funds and other institutional investors.

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.