OncoCyte's (OCX) "Buy" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of OncoCyte (NASDAQ:OCX - Free Report) in a report issued on Tuesday,Benzinga reports. They currently have a $4.25 target price on the stock.

Separately, StockNews.com began coverage on OncoCyte in a research note on Monday, January 13th. They issued a "sell" rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.56.

OncoCyte Trading Down 0.3 %

NASDAQ OCX traded down $0.01 on Tuesday, reaching $3.21. 36,749 shares of the company were exchanged, compared to its average volume of 65,135. The business's fifty day moving average price is $2.79 and its 200 day moving average price is $2.72. The stock has a market capitalization of $56.02 million, a P/E ratio of -0.73 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 quarterly earnings data on Monday, March 24th. The company reported $0.48 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.49 million during the quarter, compared to analyst estimates of $0.16 million. Equities research analysts forecast that OncoCyte will post -2.57 earnings per share for the current year.

Insider Transactions at OncoCyte

In related news, major shareholder Patrick W. Smith bought 1,077,600 shares of the company'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 $2,209,080.00. Following the completion of the transaction, the insider now owns 2,872,671 shares of the company's stock, valued at $5,888,975.55. The trade was a 60.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrea S. James acquired 97,561 shares of OncoCyte stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $2.05 per share, with a total value 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 $310,023.55. This trade represents a 181.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 1,185,625 shares of company stock valued at $2,430,510 over the last ninety days. Corporate insiders own 1.58% of the company's stock.

Institutional Investors Weigh In On OncoCyte

A number of hedge funds have recently added to or reduced their stakes in OCX. Ground Swell Capital LLC acquired a new position in shares of OncoCyte in the 4th quarter valued at $26,000. Two Sigma Securities LLC bought a new stake in OncoCyte in the 4th quarter valued at $31,000. FNY Investment Advisers LLC lifted its holdings in shares of 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 purchasing an additional 6,481 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new position in OncoCyte during the 4th quarter worth approximately $126,000. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 11,289 shares during the last quarter. Institutional investors own 55.35% of the company's stock.

About OncoCyte

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.