Insider Buying: OncoCyte Co. (NASDAQ:OCX) Major Shareholder Acquires 5,669 Shares of Stock

OncoCyte Co. (NASDAQ:OCX) major shareholder Patrick W. Smith acquired 5,669 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of $2.08 per share, with a total value of $11,791.52. Following the completion of the transaction, the insider now owns 1,779,572 shares in the company, valued at $3,701,509.76. This represents a 0.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

OncoCyte Price Performance

Shares of NASDAQ:OCX traded up $0.05 during trading on Wednesday, reaching $2.20. 34,695 shares of the stock were exchanged, compared to its average volume of 30,611. OncoCyte Co. has a 1-year low of $1.97 and a 1-year high of $3.57. The stock has a fifty day moving average of $2.43 and a two-hundred day moving average of $2.86.

OncoCyte (NASDAQ:OCX) last posted its 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). The company had revenue of $0.12 million during the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. During the same quarter in the previous year, the company earned ($0.57) EPS. Sell-side analysts forecast that OncoCyte Co. will post -2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $4.25 price target on shares of OncoCyte in a report on Wednesday, November 13th. StockNews.com assumed coverage on shares of OncoCyte in a report on Monday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. FNY Investment Advisers LLC increased its holdings in OncoCyte Co. (NASDAQ:OCX) by 15.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,377 shares of the company’s stock after acquiring an additional 6,481 shares during the period. FNY Investment Advisers LLC owned about 0.29% of OncoCyte worth $117,000 at the end of the most recent quarter. 55.35% of the stock is owned by hedge funds and other institutional investors.

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.