OncoCyte Co. (NASDAQ:OCX) Major Shareholder Buys $2,209,080.00 in Stock

OncoCyte Co. (NASDAQ:OCX) major shareholder Patrick W. Smith bought 1,077,600 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $2.05 per share, with a total value of $2,209,080.00. Following the purchase, the insider now owns 2,872,671 shares in the company, valued at $5,888,975.55. The trade was a 60.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

OncoCyte Price Performance

NASDAQ:OCX traded up $0.30 during mid-day trading on Tuesday, reaching $2.37. 362,185 shares of the company’s stock were exchanged, compared to its average volume of 58,483. OncoCyte Co. has a one year low of $1.92 and a one year high of $3.48. The business’s fifty day simple moving average is $2.20 and its two-hundred day simple moving average is $2.71.

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

Hedge Funds Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC raised its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 at the end of the most recent quarter. Institutional investors and hedge funds own 55.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OCX. Needham & Company LLC restated a “buy” rating and set a $4.25 target price on shares of OncoCyte in a research note on Wednesday, November 13th. StockNews.com started coverage on shares of OncoCyte in a research report on Monday, January 13th. They set a “sell” rating on the 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.