OncoCyte (NASDAQ:OCX) Given “Equal Weight” Rating at Stephens

Stephens reiterated their equal weight rating on shares of OncoCyte (NASDAQ:OCX) in a research report report published on Tuesday,Benzinga reports. Stephens currently has a $4.00 price target on the stock.

Several other brokerages have also recently weighed in on OCX. StockNews.com started coverage on shares of OncoCyte in a research report on Monday, January 13th. They issued a “sell” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $4.25 price objective on shares of OncoCyte in a research note on Tuesday.

OncoCyte Stock Down 8.7 %

OCX stock opened at $3.04 on Tuesday. OncoCyte has a fifty-two week low of $1.92 and a fifty-two week high of $4.75. The stock’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $2.72.

OncoCyte (NASDAQ:OCX) last issued its earnings results on Monday, March 24th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.88. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The company had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.16 million. On average, sell-side analysts expect that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Andrea S. James purchased 97,561 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $2.05 per share, for a total transaction of $200,000.05. Following the purchase, the chief financial officer now directly owns 151,231 shares in the company, valued at approximately $310,023.55. This trade represents a 181.78 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Patrick W. Smith bought 90,219 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was purchased at an average cost of $2.13 per share, with a total value of $192,166.47. Following the completion of the transaction, the insider now directly owns 1,773,903 shares of the company’s stock, valued at approximately $3,778,413.39. The trade was a 5.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 1,288,344 shares of company stock valued at $2,649,051 over the last three months. Corporate insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ground Swell Capital LLC purchased a new stake in shares of OncoCyte during the 4th quarter valued at approximately $26,000. Two Sigma Securities LLC purchased a new stake in shares of OncoCyte during the fourth quarter worth $31,000. FNY Investment Advisers LLC boosted its holdings in shares of OncoCyte by 15.1% in the fourth quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock worth $117,000 after acquiring an additional 6,481 shares during the period. Wealthedge Investment Advisors LLC purchased a new position in shares of OncoCyte in the fourth quarter valued at $126,000. Finally, Geode Capital Management LLC grew its position in shares of OncoCyte by 12.2% in the third quarter. Geode Capital Management LLC now owns 103,980 shares of the company’s stock valued at $296,000 after purchasing an additional 11,289 shares in the last quarter. Hedge funds and other institutional investors own 55.35% of the company’s stock.

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.