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

Investment analysts at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued on Monday. The brokerage set a “sell” rating on the stock.

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

OncoCyte Stock Performance

NASDAQ:OCX opened at $2.41 on Monday. The firm has a 50-day simple moving average of $2.89 and a 200-day simple moving average of $2.96. OncoCyte has a one year low of $2.00 and a one year high of $3.98.

OncoCyte (NASDAQ:OCX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The company had revenue of $0.12 million for the quarter. During the same period in the prior year, the company posted ($0.57) EPS.

Insiders Place Their Bets

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the purchase, the insider now owns 6,244,405 shares of the company’s stock, valued at approximately $18,420,994.75. The trade was a 26.69 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrea S. James acquired 33,670 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average cost of $2.97 per share, with a total value of $99,999.90. Following the completion of the transaction, the chief financial officer now directly owns 33,670 shares in the company, valued at $99,999.90. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC boosted its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the period. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 as of its most recent filing with the Securities & Exchange Commission. 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.