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

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

A number of other equities research analysts have also commented on OCX. Stephens reissued an “equal weight” rating and set a $4.00 price objective on shares of OncoCyte in a report on Tuesday, March 25th. Needham & Company LLC restated a “buy” rating and set a $4.25 target price on shares of OncoCyte in a research report on Tuesday, March 25th. Finally, Lake Street Capital started coverage on shares of OncoCyte in a research note on Friday. They set a “buy” rating and a $5.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, OncoCyte presently has a consensus rating of “Hold” and a consensus price target of $4.56.

OncoCyte Price Performance

Shares of NASDAQ OCX traded down $0.15 during mid-day trading on Monday, hitting $3.06. The company had a trading volume of 68,567 shares, compared to its average volume of 65,149. OncoCyte has a 12 month low of $1.92 and a 12 month high of $4.75. The firm has a market cap of $87.51 million, a P/E ratio of -0.70 and a beta of 0.79. The business’s 50-day simple moving average is $2.81 and its 200-day simple moving average is $2.72.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings data on Monday, March 24th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.88. The company had revenue of $1.49 million during the quarter, compared to the consensus estimate of $0.16 million. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. As a group, sell-side analysts predict that OncoCyte will post -2.57 EPS for the current year.

Insider Activity

In other OncoCyte news, CFO Andrea S. James acquired 97,561 shares of OncoCyte stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $2.05 per share, with a total value of $200,000.05. Following the completion of the purchase, the chief financial officer now directly owns 151,231 shares in the company, valued at $310,023.55. This trade represents a 181.78 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Patrick W. Smith acquired 1,077,600 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price 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 of the company’s stock, valued at $5,888,975.55. This trade represents a 60.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,185,625 shares of company stock valued at $2,430,510. 1.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OCX. FNY Investment Advisers LLC increased 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 buying an additional 6,481 shares during the last quarter. Ground Swell Capital LLC bought a new position in shares of OncoCyte in the fourth quarter worth $26,000. Geode Capital Management LLC increased its holdings in shares of OncoCyte by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 103,980 shares of the company’s stock worth $296,000 after buying an additional 11,289 shares during the last quarter. Two Sigma Securities LLC purchased a new stake in OncoCyte in the fourth quarter worth approximately $31,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of OncoCyte in the fourth quarter worth about $126,000. 55.35% of the stock is 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.