OncoCyte (NASDAQ:OCX) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of OncoCyte (NASDAQ:OCX) in a research report report published on Friday, Marketbeat Ratings reports. The firm issued a buy rating and a $5.00 price target on the stock.

A number of other equities research analysts also recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $4.25 price target on shares of OncoCyte in a research note on Tuesday. Stephens reissued an “equal weight” rating and issued a $4.00 target price on shares of OncoCyte in a research report on Tuesday. Finally, StockNews.com began coverage on OncoCyte in a research report on Monday, January 13th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.56.

OncoCyte Stock Performance

OCX stock opened at $3.21 on Friday. OncoCyte has a one year low of $1.92 and a one year high of $4.75. The firm has a market cap of $56.02 million, a PE ratio of -0.73 and a beta of 0.79. The firm’s 50 day moving average price is $2.79 and its 200-day moving average price is $2.73.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings results on Monday, March 24th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of ($0.40) by $0.88. The business had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.16 million. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. Equities research analysts predict that OncoCyte will post -2.57 EPS for the current fiscal year.

Insider Transactions at OncoCyte

In other OncoCyte news, major shareholder Patrick W. Smith purchased 1,077,600 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $2.05 per share, with a total value of $2,209,080.00. Following the acquisition, the insider now directly owns 2,872,671 shares of the company’s stock, valued at approximately $5,888,975.55. This represents a 60.03 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrea S. James acquired 97,561 shares of the stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $2.05 per share, with a total value of $200,000.05. Following the completion of the transaction, the chief financial officer now owns 151,231 shares in the company, valued at approximately $310,023.55. This represents a 181.78 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,185,625 shares of company stock valued at $2,430,510. 1.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OncoCyte

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

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.