OncoCyte Co. (NYSEAMERICAN:OCX – Get Rating) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.10.
A number of equities analysts have issued reports on the stock. Needham & Company LLC decreased their price objective on shares of OncoCyte from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 11th. Stephens lowered shares of OncoCyte from an “overweight” rating to an “equal weight” rating in a research note on Tuesday. Lake Street Capital dropped their price objective on shares of OncoCyte from $11.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Zacks Investment Research raised shares of OncoCyte from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. Finally, Piper Sandler dropped their price objective on shares of OncoCyte from $1.80 to $1.40 in a research note on Sunday, May 15th.
In related news, major shareholder Broadwood Partners, L.P. purchased 6,003,752 shares of OncoCyte stock in a transaction that occurred on Thursday, April 14th. The shares were bought at an average price of $1.33 per share, with a total value of $7,984,990.16. Following the purchase, the insider now directly owns 23,353,697 shares of the company’s stock, valued at approximately $31,060,417.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cavan M. Redmond purchased 40,000 shares of OncoCyte stock in a transaction that occurred on Wednesday, March 16th. The stock was bought at an average cost of $1.19 per share, for a total transaction of $47,600.00. The disclosure for this purchase can be found here. Insiders have acquired 6,125,252 shares of company stock valued at $8,137,390 in the last quarter. 4.06% of the stock is owned by company insiders.
Shares of NYSEAMERICAN:OCX opened at $0.98 on Wednesday. The firm has a market capitalization of $98.34 million, a P/E ratio of -1.28 and a beta of 1.87. OncoCyte has a 52 week low of $0.97 and a 52 week high of $6.25.
OncoCyte (NYSEAMERICAN:OCX – Get Rating) last issued its earnings results on Wednesday, May 11th. The biotechnology company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. OncoCyte had a negative net margin of 877.80% and a negative return on equity of 52.12%. As a group, analysts forecast that OncoCyte will post -0.52 earnings per share for the current year.
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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