OncoCyte (NASDAQ:OCX) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Tuesday. The brokerage issued a sell rating on the stock.

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

OncoCyte Trading Up 0.5 %

Shares of OCX opened at $2.23 on Tuesday. The stock has a fifty day moving average price of $2.50 and a two-hundred day moving average price of $2.87. OncoCyte has a 52-week low of $1.97 and a 52-week high of $3.57.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) 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 last year, the company earned ($0.57) earnings per share. Analysts expect that OncoCyte will post -2.57 earnings per share for the current year.

Insider Activity

In related news, CFO Andrea S. James acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was acquired at an average price of $2.29 per share, for a total transaction of $45,800.00. Following the completion of the acquisition, the chief financial officer now owns 53,670 shares of the company’s stock, valued at $122,904.30. This trade represents a 59.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Andrew Arno purchased 12,500 shares of the stock in a transaction dated Thursday, December 26th. The stock was bought at an average cost of $2.11 per share, with a total value of $26,375.00. Following the completion of the purchase, the director now owns 81,554 shares in the company, valued at $172,078.94. The trade was a 18.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 122,719 shares of company stock valued at $264,341 over the last 90 days. 1.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC grew its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the period. 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.

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.