OncoCyte’s (OCX) “Equal Weight” Rating Reiterated at Stephens

Stephens reissued their equal weight rating on shares of OncoCyte (NASDAQ:OCX) in a report published on Tuesday morning,Benzinga reports. Stephens currently has a $4.00 price objective on the stock.

Several other equities analysts also recently weighed in on OCX. Needham & Company LLC reissued a “buy” rating and set a $4.25 price target on shares of OncoCyte in a research report on Tuesday. StockNews.com started coverage on OncoCyte in a research report on Monday, January 13th. They set a “sell” rating for the company.

OncoCyte Trading Up 1.3 %

Shares of NASDAQ OCX opened at $3.22 on Tuesday. The stock has a market cap of $56.20 million, a price-to-earnings ratio of -0.73 and a beta of 0.79. The company’s 50-day moving average price is $2.77 and its 200 day moving average price is $2.73. OncoCyte has a 52 week low of $1.92 and a 52 week high of $4.75.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings results on Monday, March 24th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of ($0.40) by $0.88. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The business had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.16 million. As a group, research analysts expect that OncoCyte will post -2.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Andrea S. James acquired 97,561 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $2.05 per share, for a total transaction of $200,000.05. Following the acquisition, the chief financial officer now directly owns 151,231 shares in the company, valued at approximately $310,023.55. The trade was a 181.78 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Patrick W. Smith acquired 1,077,600 shares of the stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $2.05 per share, with a total value of $2,209,080.00. Following the completion of the purchase, the insider now directly owns 2,872,671 shares in the company, valued at approximately $5,888,975.55. This trade represents a 60.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 1,185,625 shares of company stock valued at $2,430,510. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ground Swell Capital LLC acquired a new position in shares of OncoCyte during the fourth quarter worth about $26,000. Two Sigma Securities LLC acquired a new position in OncoCyte during the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC lifted its position in OncoCyte by 15.1% during the 4th quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock worth $117,000 after acquiring an additional 6,481 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in OncoCyte in the 4th quarter worth approximately $126,000. Finally, Geode Capital Management LLC grew its position in OncoCyte by 12.2% in the third quarter. Geode Capital Management LLC now owns 103,980 shares of the company’s stock valued at $296,000 after acquiring an additional 11,289 shares in the last quarter. 55.35% of the stock is owned by institutional investors and hedge funds.

OncoCyte Company Profile

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.