OncoCyte (NASDAQ:OCX) Research Coverage Started at StockNews.com

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

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

OncoCyte Price Performance

Shares of OCX stock opened at $2.20 on Monday. The firm has a 50 day moving average of $2.42 and a two-hundred day moving average of $2.85. OncoCyte has a 52 week low of $1.97 and a 52 week high of $3.57.

OncoCyte (NASDAQ:OCX) last released its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The company had revenue of $0.12 million during the quarter. During the same period in the previous year, the business posted ($0.57) EPS. As a group, analysts anticipate that OncoCyte will post -2.57 EPS for the current year.

Insider Activity

In related news, major shareholder Patrick W. Smith bought 90,219 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $2.13 per share, with a total value of $192,166.47. Following the transaction, the insider now directly owns 1,773,903 shares of the company’s stock, valued at approximately $3,778,413.39. This represents a 5.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew Arno purchased 12,500 shares of OncoCyte stock in a transaction that occurred on Thursday, December 26th. The stock was bought at an average cost of $2.11 per share, with a total value of $26,375.00. Following the completion of the transaction, the director now owns 81,554 shares of the company’s stock, valued at $172,078.94. The trade was a 18.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 128,388 shares of company stock worth $276,133. 1.58% of the stock is currently owned by insiders.

Institutional Trading of OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC raised its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 as of its most recent filing with the Securities and Exchange Commission. 55.35% of the stock is currently owned by hedge funds and other institutional investors.

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.