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

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

Several other analysts also recently issued reports on the company. Stephens restated an equal weight rating and issued a $4.00 price objective on shares of OncoCyte in a research report on Wednesday, April 17th. Needham & Company LLC restated a buy rating and issued a $4.25 target price on shares of OncoCyte in a report on Thursday, May 16th. Finally, Benchmark reiterated a speculative buy rating and set a $5.00 price target on shares of OncoCyte in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $4.06.

OncoCyte Price Performance

Shares of OncoCyte stock opened at $2.96 on Friday. OncoCyte has a 1 year low of $2.08 and a 1 year high of $4.86. The company’s fifty day moving average is $2.75 and its two-hundred day moving average is $2.90.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($1.13) EPS for the quarter. The firm had revenue of $0.18 million during the quarter. OncoCyte had a negative net margin of 2,905.14% and a negative return on equity of 135.45%. On average, sell-side analysts anticipate that OncoCyte will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average price of $2.92 per share, with a total value of $7,066,400.00. Following the purchase, the insider now owns 4,929,066 shares of the company’s stock, valued at approximately $14,392,872.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Andrew Arno acquired 33,898 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average price of $2.95 per share, for a total transaction of $99,999.10. Following the purchase, the director now owns 69,054 shares in the company, valued at $203,709.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average price of $2.92 per share, with a total value of $7,066,400.00. Following the completion of the acquisition, the insider now owns 4,929,066 shares of the company’s stock, valued at approximately $14,392,872.72. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,457,288 shares of company stock worth $7,176,400. 1.94% of the stock is owned by insiders.

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.