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 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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