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

Equities researchers at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the stock.

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

OncoCyte Price Performance

Shares of OCX stock opened at $2.44 on Tuesday. OncoCyte has a 12 month low of $2.00 and a 12 month high of $4.19. The company’s fifty day simple moving average is $2.95 and its 200-day simple moving average is $2.98.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $0.12 million during the quarter. During the same quarter in the prior year, the firm earned ($0.57) EPS.

Insider Buying and Selling at OncoCyte

In other OncoCyte news, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average cost of $2.95 per share, with a total value 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. The trade was a 26.69 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrea S. James purchased 33,670 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average price of $2.97 per share, for a total transaction of $99,999.90. Following the purchase, the chief financial officer now owns 33,670 shares in the company, valued at $99,999.90. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC increased its stake in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 103,980 shares of the company’s stock after buying 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.

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.