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

StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Wednesday morning. The firm issued a sell rating on the stock.

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

OncoCyte Stock Up 1.5 %

NASDAQ OCX opened at $2.71 on Wednesday. OncoCyte has a 1-year low of $2.29 and a 1-year high of $4.30. The firm’s fifty day simple moving average is $2.97 and its 200-day simple moving average is $2.98.

OncoCyte (NASDAQ:OCX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.54). OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The firm had revenue of $0.12 million during the quarter. During the same quarter in the prior year, the firm posted ($0.57) earnings per share.

Insider Activity at OncoCyte

In related news, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the completion of the purchase, the insider now owns 6,244,405 shares in the company, valued at approximately $18,420,994.75. The trade was a 26.69 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrea S. James purchased 33,670 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost 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 $99,999.90. The trade was a ∞ 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 corporate insiders.

Institutional Trading of OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC boosted its holdings in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the period. Geode Capital Management LLC owned 0.62% of OncoCyte worth $296,000 as of its most recent filing with the SEC. 55.35% of the stock is owned by hedge funds and other 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.