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

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research note published on Wednesday morning. The firm issued a sell rating on the stock.

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

OncoCyte Stock Performance

OncoCyte stock opened at $2.71 on Wednesday. OncoCyte has a 12 month low of $2.29 and a 12 month high of $4.30. The company’s fifty day simple moving average is $2.98 and its 200-day simple moving average is $2.98.

OncoCyte (NASDAQ:OCX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The firm had revenue of $0.12 million during the quarter. During the same quarter in the prior year, the business earned ($0.57) EPS.

Insider Activity at OncoCyte

In other OncoCyte news, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average price of $2.95 per share, with a total value of $3,880,250.05. Following the acquisition, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This represents a 26.69 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Andrea S. James bought 33,670 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly 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. 1.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC increased its position in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,980 shares of the company’s stock after buying 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 quarter. Institutional investors and hedge funds 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.