OncoCyte (NASDAQ:OCX) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a research note released on Monday morning. The firm issued a sell rating on the stock.

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

OncoCyte Trading Up 2.3 %

NASDAQ:OCX opened at $2.20 on Monday. The firm’s fifty day moving average price is $2.42 and its 200 day moving average price is $2.85. OncoCyte has a 1-year low of $1.97 and a 1-year high of $3.57.

OncoCyte (NASDAQ:OCX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.54). OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The firm had revenue of $0.12 million during the quarter. During the same quarter last year, the firm posted ($0.57) earnings per share. Research analysts expect that OncoCyte will post -2.57 EPS for the current year.

Insider Transactions at OncoCyte

In other news, major shareholder Patrick W. Smith acquired 90,219 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was purchased at an average cost of $2.13 per share, with a total value of $192,166.47. Following the purchase, the insider now directly owns 1,773,903 shares of the company’s stock, valued at approximately $3,778,413.39. This trade represents a 5.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Andrew Arno bought 12,500 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $2.11 per share, for a total transaction of $26,375.00. Following the completion of the transaction, the director now owns 81,554 shares of the company’s stock, valued at $172,078.94. This represents a 18.10 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 128,388 shares of company stock valued at $276,133 in the last ninety days. 1.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OncoCyte stock. FNY Investment Advisers LLC lifted its holdings in shares of OncoCyte Co. (NASDAQ:OCX) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,377 shares of the company’s stock after purchasing an additional 6,481 shares during the period. FNY Investment Advisers LLC owned about 0.29% of OncoCyte worth $117,000 as of its most recent SEC filing. 55.35% of the stock is currently owned by hedge funds and other 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.