OncoCyte (NASDAQ:OCX) Announces Quarterly Earnings Results, Misses Expectations By $0.54 EPS

OncoCyte (NASDAQ:OCX) issued its quarterly earnings results on Tuesday. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54), Zacks reports. OncoCyte had a negative return on equity of 237.81% and a negative net margin of 6,122.29%. The business had revenue of $0.12 million for the quarter. During the same period in the prior year, the company posted ($0.57) EPS.

OncoCyte Stock Performance

OCX stock opened at $2.94 on Thursday. The company has a fifty day moving average of $3.04 and a 200-day moving average of $2.98. OncoCyte has a one year low of $2.29 and a one year high of $4.34.

Analyst Ratings Changes

OCX has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.25 target price on shares of OncoCyte in a report on Wednesday. StockNews.com started coverage on OncoCyte in a research note on Thursday. They set a “sell” rating for the company.

Insider Transactions at OncoCyte

In other news, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of OncoCyte stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the transaction, the insider now directly owns 6,244,405 shares in the company, valued at approximately $18,420,994.75. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Andrea S. James acquired 33,670 shares of OncoCyte stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $2.97 per share, for a total transaction of $99,999.90. Following the completion of the purchase, the chief financial officer now directly owns 33,670 shares of the company’s stock, valued at approximately $99,999.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average cost of $2.95 per share, for a total transaction of $3,880,250.05. Following the acquisition, the insider now owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.58% 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.