OncoCyte (NASDAQ:OCX) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Sunday. The firm set a “sell” rating on the stock.

OCX has been the topic of a number of other reports. Lake Street Capital assumed coverage on OncoCyte in a research report on Friday, March 28th. They issued a “buy” rating and a $5.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research report on Tuesday, March 25th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $4.00 target price on shares of OncoCyte in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.56.

OncoCyte Stock Performance

Shares of OncoCyte stock opened at $2.77 on Friday. The company’s 50 day moving average price is $2.88 and its 200-day moving average price is $2.72. OncoCyte has a 52-week low of $1.92 and a 52-week high of $4.75. The stock has a market capitalization of $79.22 million, a price-to-earnings ratio of -0.63 and a beta of 0.97.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings data on Monday, March 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.88. The firm had revenue of $1.49 million for the quarter, compared to analysts’ expectations of $0.16 million. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. As a group, equities research analysts forecast that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at OncoCyte

In other OncoCyte news, CFO Andrea S. James bought 97,561 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $2.05 per share, for a total transaction of $200,000.05. Following the completion of the acquisition, the chief financial officer now owns 151,231 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Also, major shareholder Patrick W. Smith purchased 1,077,600 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was bought at an average price of $2.05 per share, for a total transaction of $2,209,080.00. Following the purchase, the insider now directly owns 2,872,671 shares in the company, valued at $5,888,975.55. The trade was a 60.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,185,625 shares of company stock valued at $2,430,510. 1.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OncoCyte

Several large investors have recently modified their holdings of the stock. Broadwood Capital Inc. increased its stake in OncoCyte by 26.7% during the 4th quarter. Broadwood Capital Inc. now owns 6,244,405 shares of the company’s stock valued at $14,862,000 after purchasing an additional 1,315,339 shares in the last quarter. Pura Vida Investments LLC increased its position in shares of OncoCyte by 32.1% during the fourth quarter. Pura Vida Investments LLC now owns 654,451 shares of the company’s stock valued at $1,558,000 after acquiring an additional 159,106 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new stake in shares of OncoCyte during the fourth quarter valued at approximately $126,000. Geode Capital Management LLC raised its holdings in OncoCyte by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 137,069 shares of the company’s stock worth $326,000 after acquiring an additional 33,089 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in OncoCyte in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 55.35% of the company’s stock.

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.