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

StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research note released on Wednesday. The brokerage issued 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

OncoCyte stock opened at $2.75 on Wednesday. The stock has a fifty day moving average of $2.99 and a two-hundred day moving average of $2.98. OncoCyte has a fifty-two week low of $2.29 and a fifty-two week high of $4.34.

OncoCyte (NASDAQ:OCX) last released its quarterly 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). The company had revenue of $0.12 million for the quarter. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. During the same period last year, the firm earned ($0.57) earnings per share.

Insider Activity

In other news, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the stock in a transaction on Wednesday, October 2nd. The stock was purchased at an average price of $2.95 per share, with a total value of $3,880,250.05. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrea S. James purchased 33,670 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $2.97 per share, with a total value of $99,999.90. Following the transaction, the chief financial officer now owns 33,670 shares of the company’s stock, valued at $99,999.90. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.58% of the company’s stock.

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC raised its position in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 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.