OncoCyte (NASDAQ:OCX) Earns Sell Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research report sent to investors on Friday morning. The brokerage issued a sell rating on the stock.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $4.25 price objective on shares of OncoCyte in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.06.

OncoCyte Stock Down 1.0 %

Shares of OCX stock traded down $0.03 on Friday, hitting $2.83. The company’s stock had a trading volume of 6,731 shares, compared to its average volume of 35,684. OncoCyte has a fifty-two week low of $2.29 and a fifty-two week high of $4.34. The firm’s fifty day moving average price is $3.05 and its 200-day moving average price is $2.97.

OncoCyte (NASDAQ:OCX) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.36) earnings per share for the quarter. OncoCyte had a negative return on equity of 149.88% and a negative net margin of 3,558.46%. The business had revenue of $0.10 million for the quarter.

Insider Activity

In other OncoCyte news, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of $2.95 per share, for a total transaction of $3,880,250.05. Following the transaction, the insider now owns 6,244,405 shares in the company, valued at approximately $18,420,994.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $2.95 per share, for a total transaction of $3,880,250.05. Following the transaction, the insider now owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrea S. James purchased 33,670 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $2.97 per share, for a total transaction of $99,999.90. Following the completion of the transaction, the chief financial officer now directly owns 33,670 shares in the company, valued at $99,999.90. The disclosure for this purchase can be found here. 1.58% of the stock is owned by insiders.

About OncoCyte

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.