OncoCyte (NASDAQ:OCX) Now Covered by StockNews.com

StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued to clients and investors on Sunday. The firm set a “sell” rating on the stock.

Several other equities analysts have also recently issued reports on OCX. Stephens reaffirmed an “equal weight” rating and issued a $4.00 price objective on shares of OncoCyte in a research note on Tuesday, March 25th. Needham & Company LLC restated a “buy” rating and issued a $4.25 price target on shares of OncoCyte in a research report on Tuesday, March 25th. Finally, Lake Street Capital assumed coverage on OncoCyte in a research report on Friday, March 28th. They set a “buy” rating and a $5.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, OncoCyte has an average rating of “Hold” and an average target price of $4.56.

OncoCyte Stock Performance

Shares of NASDAQ OCX opened at $2.84 on Friday. OncoCyte has a 1 year low of $1.92 and a 1 year high of $4.75. The stock has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $2.71. The firm has a market cap of $81.22 million, a P/E ratio of -0.65 and a beta of 0.97.

OncoCyte (NASDAQ:OCX) last announced its earnings results on Monday, March 24th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $0.16 million. On average, research analysts predict that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other OncoCyte news, major shareholder Patrick W. Smith purchased 1,077,600 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average cost of $2.05 per share, with a total value of $2,209,080.00. Following the completion of the transaction, the insider now 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 acquisition 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 firm’s stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $2.05 per share, with a total value of $200,000.05. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders bought a total of 1,185,625 shares of company stock worth $2,430,510 over the last ninety days. 1.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OncoCyte

Large investors have recently made changes to their positions in the business. Ground Swell Capital LLC purchased a new position in OncoCyte during the fourth quarter valued at approximately $26,000. Two Sigma Securities LLC acquired a new stake in shares of OncoCyte during the 4th quarter valued at $31,000. FNY Investment Advisers LLC grew its holdings in shares of OncoCyte by 15.1% during the 4th quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock valued at $117,000 after acquiring an additional 6,481 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in shares of OncoCyte during the 4th quarter valued at $126,000. Finally, Geode Capital Management LLC increased its stake 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 worth $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.

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.