OncoCyte (NASDAQ:OCX) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a report released on Friday, Marketbeat reports. The firm issued a buy rating and a $5.00 target price on the stock.

OCX has been the subject of several other research reports. StockNews.com began coverage on shares of OncoCyte in a research note on Monday, January 13th. They issued a “sell” rating for the company. Stephens reaffirmed an “equal weight” rating and issued a $4.00 price objective on shares of OncoCyte in a research report on Tuesday, March 25th. Finally, Needham & Company LLC restated a “buy” rating and issued a $4.25 price target on shares of OncoCyte in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.56.

OncoCyte Stock Down 0.3 %

Shares of NASDAQ OCX opened at $3.21 on Friday. OncoCyte has a 52 week low of $1.92 and a 52 week high of $4.75. The stock has a market capitalization of $56.02 million, a price-to-earnings ratio of -0.73 and a beta of 0.79. The firm has a 50-day moving average price of $2.79 and a 200 day moving average price of $2.72.

OncoCyte (NASDAQ:OCX) last issued its quarterly earnings data on Monday, March 24th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.88. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. The firm had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $0.16 million. Equities research analysts expect that OncoCyte will post -2.57 EPS for the current fiscal year.

Insider Activity at OncoCyte

In other OncoCyte news, major shareholder Patrick W. Smith bought 1,077,600 shares of the business’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $2.05 per share, with a total value of $2,209,080.00. Following the transaction, the insider now directly owns 2,872,671 shares in the company, valued at approximately $5,888,975.55. This trade represents a 60.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrea S. James purchased 97,561 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $2.05 per share, with a total value of $200,000.05. Following the transaction, the chief financial officer now directly owns 151,231 shares of the company’s stock, valued at approximately $310,023.55. This represents a 181.78 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,185,625 shares of company stock worth $2,430,510. 1.58% of the stock is currently owned by company insiders.

Institutional Trading of OncoCyte

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealthedge Investment Advisors LLC bought a new position in OncoCyte during the fourth quarter worth $126,000. Ground Swell Capital LLC acquired a new stake in OncoCyte during the fourth quarter worth about $26,000. Broadwood Capital Inc. lifted its holdings in OncoCyte by 26.7% in the fourth quarter. Broadwood Capital Inc. now owns 6,244,405 shares of the company’s stock worth $14,862,000 after acquiring an additional 1,315,339 shares during the last quarter. Two Sigma Securities LLC acquired a new position in OncoCyte during the 4th quarter valued at approximately $31,000. Finally, Geode Capital Management LLC increased its holdings in shares of OncoCyte by 31.8% in the 4th quarter. Geode Capital Management LLC now owns 137,069 shares of the company’s stock worth $326,000 after acquiring an additional 33,089 shares during the 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.