OncoCyte Co. (NYSEAMERICAN:OCX) Major Shareholder Buys $7,984,990.16 in Stock

OncoCyte Co. (NYSEAMERICAN:OCX – Get Rating) major shareholder Broadwood Partners, L.P. purchased 6,003,752 shares of the business’s stock in a transaction dated Thursday, April 14th. The stock was bought at an average cost of $1.33 per share, with a total value of $7,984,990.16. Following the completion of the acquisition, the insider now owns 23,353,697 shares of the company’s stock, valued at $31,060,417.01. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

OCX stock opened at $1.26 on Friday. OncoCyte Co. has a 12-month low of $1.14 and a 12-month high of $6.25.

OncoCyte (NYSEAMERICAN:OCX – Get Rating) last posted its quarterly earnings results on Thursday, March 10th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.12). OncoCyte had a negative return on equity of 37.25% and a negative net margin of 829.52%. As a group, equities analysts predict that OncoCyte Co. will post -0.52 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of OCX. Morgan Stanley lifted its stake in shares of OncoCyte by 3.5% during the second quarter. Morgan Stanley now owns 78,970 shares of the biotechnology company’s stock worth $453,000 after purchasing an additional 2,635 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of OncoCyte by 11.2% in the third quarter. Deutsche Bank AG now owns 50,808 shares of the biotechnology company’s stock worth $181,000 after acquiring an additional 5,110 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of OncoCyte by 35.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 26,845 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 7,003 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of OncoCyte by 34.2% in the fourth quarter. JPMorgan Chase & Co. now owns 31,926 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 8,131 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of OncoCyte by 358.6% in the third quarter. BNP Paribas Arbitrage SA now owns 11,278 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 8,819 shares in the last quarter. 80.92% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on OCX. BTIG Research reissued a “buy” rating and issued a $5.00 price target on shares of OncoCyte in a report on Friday, December 17th. Zacks Investment Research downgraded OncoCyte from a “hold” rating to a “sell” rating in a research report on Thursday, March 17th. Lake Street Capital lowered their price objective on OncoCyte from $11.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, March 11th. Needham & Company LLC lowered their price objective on OncoCyte from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, March 11th. Finally, Stephens assumed coverage on OncoCyte in a research report on Friday, January 7th. They issued an “overweight” rating and a $3.10 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $3.98.

OncoCyte Company Profile (Get Rating)

OncoCyte Corporation, a molecular diagnostics company, researches, develops, and commercializes proprietary laboratory-developed tests for the detection of cancer in the United States and internationally. The company offers DetermaRx, a molecular test for early stage adenocarcinoma of the lung; and DetermaIO, a proprietary gene expression assay.

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