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

StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research note published on Sunday. The brokerage issued a sell rating on the stock.

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

OncoCyte Stock Performance

Shares of OCX stock opened at $2.64 on Friday. OncoCyte has a 12 month low of $2.08 and a 12 month high of $4.86. The firm’s 50 day moving average is $2.71 and its 200 day moving average is $2.90.

OncoCyte (NASDAQ:OCX) last posted its earnings results on Wednesday, May 15th. The company reported ($1.13) earnings per share for the quarter. The firm had revenue of $0.18 million for the quarter. OncoCyte had a negative return on equity of 135.45% and a negative net margin of 2,905.14%. On average, equities research analysts predict that OncoCyte will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

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