OncoCyte (NASDAQ:OCX) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of OncoCyte (NASDAQ:OCX - Get Free Report) in a report issued on Friday, MarketBeat.com reports. The brokerage set a "buy" rating and a $5.00 price target on the stock. Lake Street Capital's price objective would suggest a potential upside of 66.67% from the stock's current price.

OCX has been the subject of a number of other reports. Needham & Company LLC reaffirmed a "buy" rating and set a $4.25 price target on shares of OncoCyte in a research note on Tuesday, March 25th. StockNews.com assumed coverage on OncoCyte in a report on Monday, January 13th. They set 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, OncoCyte presently has a consensus rating of "Hold" and a consensus price target of $4.56.

OncoCyte Stock Performance

NASDAQ:OCX traded down $0.06 during trading hours on Friday, reaching $3.00. The stock had a trading volume of 22,447 shares, compared to its average volume of 64,988. The company has a 50 day moving average price of $2.81 and a two-hundred day moving average price of $2.72. OncoCyte has a 52 week low of $1.92 and a 52 week high of $4.75. The stock has a market capitalization of $85.80 million, a PE ratio of -0.68 and a beta of 0.79.

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 analysts' consensus estimates of ($0.40) by $0.88. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The firm had revenue of $1.49 million for the quarter, compared to the consensus estimate of $0.16 million. Equities research analysts predict that OncoCyte will post -2.57 EPS for the current year.

Insider Buying and Selling at OncoCyte

In other news, major shareholder Patrick W. Smith bought 1,077,600 shares of OncoCyte stock in a transaction on Friday, February 7th. The stock was acquired at an average cost of $2.05 per share, for a total transaction 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 $5,888,975.55. This trade represents a 60.03 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrea S. James purchased 97,561 shares of the stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $2.05 per share, for a total transaction of $200,000.05. Following the completion of the acquisition, the chief financial officer now directly owns 151,231 shares in the company, 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 quarter, insiders have acquired 1,185,625 shares of company stock valued at $2,430,510. Company insiders own 1.58% of the company's stock.

Institutional Trading of OncoCyte

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Broadwood Capital Inc. increased its position in OncoCyte by 26.7% during the 4th quarter. Broadwood Capital Inc. now owns 6,244,405 shares of the company's stock valued at $14,862,000 after buying an additional 1,315,339 shares in the last quarter. Pura Vida Investments LLC grew its stake in shares of OncoCyte by 32.1% during the fourth quarter. Pura Vida Investments LLC now owns 654,451 shares of the company's stock worth $1,558,000 after acquiring an additional 159,106 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of OncoCyte by 31.8% during the fourth quarter. Geode Capital Management LLC now owns 137,069 shares of the company's stock valued at $326,000 after acquiring an additional 33,089 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in shares of OncoCyte in the 4th quarter valued at approximately $126,000. Finally, FNY Investment Advisers LLC boosted its stake in OncoCyte by 15.1% in the 4th quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company's stock worth $117,000 after purchasing an additional 6,481 shares in the last quarter. Hedge funds and other institutional investors 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.