OncoCyte (NASDAQ:OCX) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research report released on Wednesday morning. The firm issued a sell rating on the stock.

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

OncoCyte Price Performance

OncoCyte stock opened at $2.71 on Wednesday. OncoCyte has a 52 week low of $2.29 and a 52 week high of $4.30. The company’s 50-day moving average price is $2.98 and its two-hundred day moving average price is $2.98.

OncoCyte (NASDAQ:OCX) last announced 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). The firm had revenue of $0.12 million for the quarter. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. During the same quarter last year, the firm posted ($0.57) earnings per share.

Insiders Place Their Bets

In other news, CFO Andrea S. James bought 33,670 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $2.97 per share, for a total transaction of $99,999.90. Following the completion of the acquisition, the chief financial officer now directly owns 33,670 shares in the company, valued at $99,999.90. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were purchased at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following 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 26.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC lifted its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure 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 period. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 55.35% 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.