OncoCyte (NASDAQ:OCX) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of OncoCyte (NASDAQ:OCX) in a report published on Wednesday morning,Benzinga reports. They currently have a $4.25 price objective on the stock.

Separately, StockNews.com initiated coverage on OncoCyte in a report on Friday, November 8th. They issued a “sell” rating for the company.

OncoCyte Trading Down 6.8 %

NASDAQ:OCX opened at $2.61 on Wednesday. OncoCyte has a one year low of $2.29 and a one year high of $4.34. The business’s 50-day simple moving average is $3.02 and its 200 day simple moving average is $2.98.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings data 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). The firm 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 period in the prior year, the company posted ($0.57) earnings per share.

Insider Activity

In related news, CFO Andrea S. James bought 33,670 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $2.97 per share, with a total value of $99,999.90. Following the completion of the acquisition, the chief financial officer now owns 33,670 shares of the company’s stock, valued at $99,999.90. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Broadwood Partners, L.P. bought 1,315,339 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the completion of the acquisition, the insider now directly owns 6,244,405 shares of the company’s stock, valued at approximately $18,420,994.75. The trade was a 26.69 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC increased its holdings in OncoCyte Co. (NASDAQ:OCX) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 55.35% of the company’s stock.

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.