OncoCyte Co. (NASDAQ:OCX) Major Shareholder Patrick W. Smith Acquires 1,077,600 Shares

OncoCyte Co. (NASDAQ:OCX) major shareholder Patrick W. Smith bought 1,077,600 shares of the stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $2.05 per share, with a total value of $2,209,080.00. Following the purchase, 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 position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

OncoCyte Stock Up 14.5 %

Shares of OCX stock traded up $0.30 during trading hours on Tuesday, hitting $2.37. 362,185 shares of the company were exchanged, compared to its average volume of 58,483. OncoCyte Co. has a 52 week low of $1.92 and a 52 week high of $3.48. The business has a 50 day moving average of $2.20 and a two-hundred day moving average of $2.71.

OncoCyte (NASDAQ:OCX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.54). OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The business had revenue of $0.12 million for the quarter. During the same period last year, the firm earned ($0.57) EPS. As a group, equities research analysts predict that OncoCyte Co. will post -2.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OCX. Needham & Company LLC reissued a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research report on Wednesday, November 13th. StockNews.com began coverage on shares of OncoCyte in a research report on Monday, January 13th. They set a “sell” rating for the company.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC raised its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 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.