Stephens Reaffirms “Equal Weight” Rating for OncoCyte (NASDAQ:OCX)

OncoCyte (NASDAQ:OCX)‘s stock had its “equal weight” rating reiterated by analysts at Stephens in a research note issued on Tuesday,Benzinga reports. They currently have a $4.00 target price on the stock. Stephens’ price objective indicates a potential upside of 29.03% from the stock’s current price.

A number of other analysts have also recently commented on the stock. StockNews.com began coverage on shares of OncoCyte in a research note on Monday, January 13th. They issued a “sell” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $4.25 target price on shares of OncoCyte in a report on Tuesday.

OncoCyte Stock Down 6.9 %

NASDAQ OCX traded down $0.23 during trading on Tuesday, reaching $3.10. 42,017 shares of the stock traded hands, compared to its average volume of 65,653. OncoCyte has a fifty-two week low of $1.92 and a fifty-two week high of $4.75. The stock’s 50-day moving average price is $2.71 and its 200 day moving average price is $2.72.

Insiders Place Their Bets

In other news, CFO Andrea S. James purchased 97,561 shares of the stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $2.05 per share, for a total transaction of $200,000.05. Following the acquisition, the chief financial officer now owns 151,231 shares in the company, valued at $310,023.55. This trade represents a 181.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Patrick W. Smith acquired 1,077,600 shares of the stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $2.05 per share, with a total value of $2,209,080.00. Following the completion of the transaction, the insider now owns 2,872,671 shares in the company, valued at approximately $5,888,975.55. This represents a 60.03 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 1,288,344 shares of company stock valued at $2,649,051. 1.58% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OncoCyte

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ground Swell Capital LLC bought a new position in shares of OncoCyte during the 4th quarter worth about $26,000. Two Sigma Securities LLC purchased a new position in OncoCyte during the fourth quarter worth about $31,000. FNY Investment Advisers LLC grew its stake in OncoCyte by 15.1% in the 4th quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock valued at $117,000 after purchasing an additional 6,481 shares during the period. Wealthedge Investment Advisors LLC bought a new stake in shares of OncoCyte in the 4th quarter worth approximately $126,000. Finally, Geode Capital Management LLC lifted its position in shares of OncoCyte by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 103,980 shares of the company’s stock valued at $296,000 after buying an additional 11,289 shares during the last quarter. 55.35% of the stock is currently owned by institutional investors.

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.