StockNews.com Begins Coverage on OncoCyte (NASDAQ:OCX)

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

Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $4.25 price target on shares of OncoCyte in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.06.

OncoCyte Stock Up 0.7 %

NASDAQ OCX opened at $2.92 on Friday. The business has a 50 day moving average price of $3.07 and a 200 day moving average price of $2.96. OncoCyte has a 1-year low of $2.08 and a 1-year high of $4.34.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.36) earnings per share for the quarter. OncoCyte had a negative net margin of 3,558.46% and a negative return on equity of 149.88%. The firm had revenue of $0.10 million during the quarter.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average price of $2.95 per share, with a total value 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 represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other OncoCyte news, CFO Andrea S. James purchased 33,670 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $2.97 per share, with a total value of $99,999.90. Following the purchase, the chief financial officer now owns 33,670 shares in the company, valued at approximately $99,999.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $2.95 per share, with a total value of $3,880,250.05. Following the acquisition, the insider now directly owns 6,244,405 shares in the company, valued at $18,420,994.75. This trade represents a 0.00 % 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.

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.