OncoCyte (NASDAQ:OCX) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the stock.

Separately, Needham & Company LLC reissued a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research report on Wednesday, November 13th.

OncoCyte Trading Down 2.1 %

Shares of NASDAQ:OCX opened at $2.33 on Wednesday. OncoCyte has a twelve month low of $1.97 and a twelve month high of $3.82. The company’s 50 day moving average is $2.56 and its 200 day moving average is $2.89.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The business had revenue of $0.12 million during the quarter. During the same period last year, the firm earned ($0.57) earnings per share. As a group, research analysts expect that OncoCyte will post -2.57 earnings per share for the current fiscal year.

Insider Buying and Selling at OncoCyte

In other OncoCyte news, major shareholder Patrick W. Smith purchased 90,219 shares of OncoCyte stock in a transaction dated Thursday, December 26th. The shares were bought at an average cost of $2.13 per share, for a total transaction of $192,166.47. Following the transaction, the insider now owns 1,773,903 shares in the company, valued at $3,778,413.39. This represents a 5.36 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew Arno purchased 12,500 shares of the stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $2.11 per share, with a total value of $26,375.00. Following the transaction, the director now directly owns 81,554 shares of the company’s stock, valued at approximately $172,078.94. The trade was a 18.10 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 122,719 shares of company stock valued at $264,341 over the last three months. 1.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC lifted its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,980 shares of the company’s stock after buying an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 as of its most recent filing with the Securities and Exchange Commission. 55.35% of the stock is owned by institutional investors.

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.