OncoCyte (NASDAQ:OCX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a report released on Sunday. The brokerage issued a sell rating on the stock.

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

OncoCyte Stock Up 1.6 %

Shares of OncoCyte stock opened at $2.50 on Friday. The stock’s fifty day simple moving average is $2.84 and its 200 day simple moving average is $2.94. OncoCyte has a 12 month low of $1.98 and a 12 month high of $3.82.

OncoCyte (NASDAQ:OCX) last released its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). The business had revenue of $0.12 million during the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. During the same period in the prior year, the business posted ($0.57) earnings per share. As a group, research analysts anticipate that OncoCyte will post -2.57 earnings per share for the current year.

Insider Transactions at OncoCyte

In other news, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the completion of the transaction, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This represents a 26.69 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrea S. James acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost of $2.29 per share, with a total value of $45,800.00. Following the acquisition, the chief financial officer now owns 53,670 shares in the company, valued at $122,904.30. The trade was a 59.40 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 1,369,009 shares of company stock valued at $4,026,050 over the last ninety days. 1.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC boosted its stake in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 55.35% of the stock is owned by institutional investors and hedge funds.

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.