OncoCyte (NASDAQ:OCX) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCXGet Free Report) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Benchmark reissued a “speculative buy” rating and set a $5.00 target price on shares of OncoCyte in a report on Monday, April 15th. Needham & Company LLC reissued a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a report on Thursday, May 16th. Finally, Stephens restated an “equal weight” rating and issued a $4.00 target price on shares of OncoCyte in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.06.

Get Our Latest Stock Analysis on OCX

OncoCyte Stock Performance

Shares of OCX stock opened at $2.95 on Friday. The company has a 50 day moving average of $2.73 and a 200-day moving average of $2.90. OncoCyte has a 12-month low of $2.08 and a 12-month high of $4.86.

OncoCyte (NASDAQ:OCXGet Free Report) last released its earnings results on Wednesday, May 15th. The company reported ($1.13) earnings per share (EPS) for the quarter. OncoCyte had a negative return on equity of 135.45% and a negative net margin of 2,905.14%. The firm had revenue of $0.18 million during the quarter. On average, sell-side analysts forecast that OncoCyte will post -2.58 EPS for the current year.

Insider Transactions at OncoCyte

In other OncoCyte news, major shareholder Broadwood Partners, L.P. bought 2,420,000 shares of OncoCyte stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $2.92 per share, for a total transaction of $7,066,400.00. Following the completion of the transaction, the insider now directly owns 4,929,066 shares in the company, valued at $14,392,872.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Andrew Arno purchased 33,898 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $2.95 per share, with a total value of $99,999.10. Following the purchase, the director now directly owns 69,054 shares in the company, valued at $203,709.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were bought at an average price of $2.92 per share, for a total transaction of $7,066,400.00. Following the transaction, the insider now owns 4,929,066 shares in the company, valued at approximately $14,392,872.72. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 2,457,288 shares of company stock valued at $7,176,400. 1.94% of the stock is currently owned by company insiders.

About OncoCyte

(Get Free Report)

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.

Further Reading

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