OncoCyte (NASDAQ:OCX) Now Covered by Lake Street Capital

Stock analysts at Lake Street Capital started coverage on shares of OncoCyte (NASDAQ:OCX - Get Free Report) in a research note issued to investors on Friday, Marketbeat reports. The firm set a "buy" rating and a $5.00 price target on the stock. Lake Street Capital's price objective indicates a potential upside of 63.40% from the stock's previous close.

OCX has been the topic of a number of other reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $4.25 target price on shares of OncoCyte in a research report on Tuesday, March 25th. StockNews.com started coverage on shares of OncoCyte in a research note on Monday, January 13th. They issued a "sell" rating for the company. Finally, Stephens reiterated an "equal weight" rating and set a $4.00 target price on shares of OncoCyte in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $4.56.

OncoCyte Stock Down 4.7 %

OncoCyte stock traded down $0.15 during midday trading on Friday, reaching $3.06. The company's stock had a trading volume of 68,567 shares, compared to its average volume of 65,149. The business has a 50-day simple moving average of $2.79 and a 200-day simple moving average of $2.72. The company has a market cap of $87.51 million, a P/E ratio of -0.70 and a beta of 0.79. OncoCyte has a fifty-two week low of $1.92 and a fifty-two week high of $4.75.

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OncoCyte (NASDAQ:OCX - Get Free Report) last posted its earnings results on Monday, March 24th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.88. The firm had revenue of $1.49 million during the quarter, compared to analysts' expectations of $0.16 million. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. As a group, equities analysts forecast that OncoCyte will post -2.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Andrea S. James acquired 97,561 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average price of $2.05 per share, with a total value of $200,000.05. Following the completion of the purchase, the chief financial officer now directly owns 151,231 shares in the company, valued at approximately $310,023.55. The trade was a 181.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Patrick W. Smith purchased 1,077,600 shares of the stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $2.05 per share, with a total value of $2,209,080.00. Following the completion of the acquisition, the insider now owns 2,872,671 shares of the company's stock, valued at approximately $5,888,975.55. This represents a 60.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,185,625 shares of company stock worth $2,430,510. 1.58% of the stock is owned by corporate insiders.

Institutional Trading of OncoCyte

A number of hedge funds have recently added to or reduced their stakes in OCX. Ground Swell Capital LLC purchased a new position in OncoCyte during the fourth quarter worth approximately $26,000. Two Sigma Securities LLC purchased a new position in shares of OncoCyte in the 4th quarter worth $31,000. FNY Investment Advisers LLC boosted its holdings in OncoCyte by 15.1% in the fourth quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company's stock valued at $117,000 after acquiring an additional 6,481 shares during the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in OncoCyte during the fourth quarter valued at about $126,000. Finally, Geode Capital Management LLC increased its stake in OncoCyte by 12.2% during the third quarter. Geode Capital Management LLC now owns 103,980 shares of the company's stock worth $296,000 after acquiring an additional 11,289 shares during the last quarter. 55.35% of the stock is owned by institutional investors and hedge funds.

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.