StockNews.com Initiates Coverage on OncoCyte (NASDAQ:OCX)

Research analysts at StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the stock.

Separately, Needham & Company LLC reissued a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research note on Wednesday, November 13th.

OncoCyte Stock Performance

Shares of OCX opened at $2.11 on Thursday. OncoCyte has a 1 year low of $1.97 and a 1 year high of $3.82. The stock’s fifty day moving average price is $2.64 and its two-hundred day moving average price is $2.90.

OncoCyte (NASDAQ:OCX) last posted its quarterly earnings results 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 during the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. During the same quarter in the prior year, the business posted ($0.57) earnings per share. As a group, analysts forecast that OncoCyte will post -2.57 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrew Arno acquired 12,500 shares of OncoCyte stock in a transaction on Thursday, December 26th. The shares were acquired at an average cost of $2.11 per share, with a total value of $26,375.00. Following the transaction, the director now owns 81,554 shares in the company, valued at $172,078.94. This trade represents a 18.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrea S. James bought 33,670 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of $2.97 per share, for a total transaction of $99,999.90. Following the purchase, the chief financial officer now directly owns 33,670 shares in the company, valued at approximately $99,999.90. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 1,381,509 shares of company stock valued at $4,052,425 over the last ninety days. 1.58% of the stock is owned by insiders.

Hedge Funds Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC grew its holdings in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the period. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.