Oncocyte (NASDAQ:IMDX) Given New $12.00 Price Target at Lake Street Capital

Oncocyte (NASDAQ:IMDX) had its price objective raised by Lake Street Capital from $8.00 to $12.00 in a report released on Tuesday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

A number of other research firms also recently weighed in on IMDX. Wall Street Zen raised Oncocyte to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Oncocyte Stock Performance

Shares of NASDAQ IMDX opened at $5.39 on Tuesday. The business has a fifty day moving average of $6.40. The firm has a market cap of $154.48 million, a price-to-earnings ratio of -1.90 and a beta of 1.35. Oncocyte has a 1-year low of $2.32 and a 1-year high of $8.51.

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

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. bought 521,739 shares of the stock in a transaction that occurred 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 acquisition, the insider owned 11,931,839 shares in the company, valued at approximately $68,608,074.25. This represents a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.05% of the company’s stock.

Oncocyte Company Profile

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.