OncoCyte Co. (NASDAQ:OCX) Sees Large Decrease in Short Interest

OncoCyte Co. (NASDAQ:OCX) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 291,300 shares, a decline of 36.4% from the June 30th total of 458,300 shares. Based on an average daily trading volume, of 39,700 shares, the short-interest ratio is currently 7.3 days. Currently, 2.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

OCX has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $4.25 price objective on shares of OncoCyte in a research note on Thursday, May 16th. StockNews.com initiated coverage on shares of OncoCyte in a research note on Tuesday. They issued a “sell” rating for the company. Stephens reissued an “equal weight” rating and set a $4.00 target price on shares of OncoCyte in a research report on Wednesday, April 17th. Finally, Benchmark restated a “speculative buy” rating and set a $5.00 target price on shares of OncoCyte in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.06.

OncoCyte Stock Performance

Shares of NASDAQ:OCX traded down $0.04 on Friday, hitting $3.32. 312 shares of the company were exchanged, compared to its average volume of 43,905. The company’s 50 day moving average price is $2.90 and its two-hundred day moving average price is $2.93. OncoCyte has a one year low of $2.08 and a one year high of $4.34.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($1.13) earnings per share (EPS) for the quarter. The firm had revenue of $0.18 million for the quarter. OncoCyte had a negative net margin of 2,905.14% and a negative return on equity of 135.45%. Equities research analysts anticipate that OncoCyte will post -2.58 earnings per share for the current year.

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.