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

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

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

OncoCyte Stock Performance

Shares of OncoCyte stock opened at $2.61 on Thursday. The company has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $2.98. OncoCyte has a 12-month low of $2.29 and a 12-month high of $4.34.

OncoCyte (NASDAQ:OCX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) 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 company had revenue of $0.12 million during the quarter. During the same period in the previous year, the company earned ($0.57) EPS.

Insider Buying and Selling

In other OncoCyte news, CFO Andrea S. James purchased 33,670 shares of OncoCyte stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average cost of $2.97 per share, with a total value of $99,999.90. Following the acquisition, the chief financial officer now directly owns 33,670 shares of the company’s stock, valued at $99,999.90. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $2.95 per share, with a total value of $3,880,250.05. Following the transaction, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This represents 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.

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.