Insider Buying: Oncocyte (NASDAQ:IMDX) Major Shareholder Buys $2,999,999.25 in Stock

Oncocyte Corp (NASDAQ:IMDX) major shareholder Broadwood Partners, L.P. bought 521,739 shares of the stock in a transaction on Tuesday, February 10th. The shares were acquired at an average cost of $5.75 per share, for a total transaction of $2,999,999.25. Following the completion of the transaction, the insider directly owned 11,931,839 shares of the company’s stock, valued at approximately $68,608,074.25. The trade was a 4.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Oncocyte Stock Performance

IMDX opened at $5.57 on Friday. The business’s 50-day moving average is $6.38. The company has a market cap of $159.64 million, a P/E ratio of -1.97 and a beta of 1.35. Oncocyte Corp has a 52-week low of $2.32 and a 52-week high of $8.51.

Oncocyte (NASDAQ:IMDX) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.34) earnings per share for the quarter. Oncocyte had a negative return on equity of 983.30% and a negative net margin of 1,380.69%.The firm had revenue of $0.26 million for the quarter.

Analyst Upgrades and Downgrades

IMDX has been the topic of a number of recent research reports. Wall Street Zen raised shares of Oncocyte to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Oncocyte presently has a consensus rating of “Sell”.

About Oncocyte

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.