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

StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research report report published on Tuesday. The brokerage issued a sell rating on the stock.

Separately, Needham & Company LLC reissued a “buy” rating and set a $4.25 target price on shares of OncoCyte in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, OncoCyte presently has an average rating of “Hold” and an average price target of $4.06.

OncoCyte Price Performance

NASDAQ OCX opened at $3.12 on Tuesday. The firm has a 50 day simple moving average of $3.07 and a 200-day simple moving average of $2.94. OncoCyte has a one year low of $2.08 and a one year high of $4.34.

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

Insider Activity

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the 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 completion of the acquisition, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Andrea S. James bought 33,670 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $2.97 per share, with a total value of $99,999.90. Following the transaction, the chief financial officer now directly owns 33,670 shares in the company, valued at $99,999.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $2.95 per share, for a total transaction of $3,880,250.05. Following the transaction, the insider now owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.94% 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.