OncoCyte (NASDAQ:OCX) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research report sent to investors on Tuesday morning. The brokerage issued a sell rating on the stock.

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

OncoCyte Trading Up 0.5 %

OCX stock opened at $2.23 on Tuesday. OncoCyte has a 1 year low of $1.97 and a 1 year high of $3.57. The stock’s fifty day moving average is $2.50 and its two-hundred day moving average is $2.87.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings data 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). The business 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 in the previous year, the company posted ($0.57) EPS. Equities analysts anticipate that OncoCyte will post -2.57 earnings per share for the current year.

Insider Activity

In other news, major shareholder Patrick W. Smith purchased 90,219 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were purchased at an average cost of $2.13 per share, for a total transaction of $192,166.47. Following the completion of the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Arno acquired 12,500 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average cost of $2.11 per share, for a total transaction of $26,375.00. Following the acquisition, the director now directly owns 81,554 shares in the company, valued at $172,078.94. This represents a 18.10 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 122,719 shares of company stock valued at $264,341. 1.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC lifted its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the quarter. Geode Capital Management LLC owned 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 55.35% of the stock is owned by institutional investors.

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.