Oncocyte (NASDAQ:IMDX) Stock Price Up 0.9% – Time to Buy?

Shares of Oncocyte Corp (NASDAQ:IMDX) rose 0.9% during mid-day trading on Thursday . The company traded as high as $6.02 and last traded at $5.74. 141,945 shares changed hands during trading, a decline of 43% from the average daily volume of 250,938 shares. The stock had previously closed at $5.69.

Analyst Upgrades and Downgrades

IMDX has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncocyte in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Oncocyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Oncocyte has an average rating of “Hold” and a consensus price target of $12.00.

Oncocyte Price Performance

The stock has a market capitalization of $185.34 million, a price-to-earnings ratio of -3.88 and a beta of 1.76. The business has a 50-day simple moving average of $5.47 and a two-hundred day simple moving average of $5.44.

Oncocyte (NASDAQ:IMDX) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter. The firm had revenue of $0.03 million during the quarter.

Insider Activity

In other Oncocyte news, major shareholder Broadwood Partners, L.P. bought 280,381 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average cost of $3.50 per share, for a total transaction of $981,333.50. Following the acquisition, the insider directly owned 12,395,081 shares of the company’s stock, valued at $43,382,783.50. This trade represents a 2.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 753,045 shares of company stock valued at $2,685,120. Insiders own 2.21% of the company’s stock.

Oncocyte Company Profile

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.