StockNews.com Initiates Coverage on OncoCyte (NASDAQ:OCX)

StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCXGet Rating) in a research note released on Tuesday morning. The firm issued a sell rating on the stock.

Separately, Needham & Company LLC decreased their price target on OncoCyte from $1.40 to $0.45 and set a buy rating on the stock in a research note on Tuesday, April 4th.

OncoCyte Trading Down 2.5 %

Shares of OCX opened at $0.21 on Tuesday. OncoCyte has a 52-week low of $0.20 and a 52-week high of $1.35. The business’s fifty day moving average is $0.26 and its 200-day moving average is $0.30.

Insider Buying and Selling

In other news, major shareholder Pura Vida Investments, Llc acquired 663,000 shares of OncoCyte stock in a transaction that occurred on Wednesday, April 5th. The shares were acquired at an average price of $0.30 per share, for a total transaction of $198,900.00. Following the transaction, the insider now directly owns 8,090,202 shares of the company’s stock, valued at approximately $2,427,060.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Pura Vida Investments, Llc purchased 663,000 shares of OncoCyte stock in a transaction on Wednesday, April 5th. The shares were purchased at an average price of $0.30 per share, for a total transaction of $198,900.00. Following the transaction, the insider now owns 8,090,202 shares of the company’s stock, valued at approximately $2,427,060.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Broadwood Partners, L.P. purchased 26,827,638 shares of OncoCyte stock in a transaction on Monday, April 3rd. The stock was bought at an average price of $0.30 per share, for a total transaction of $8,048,291.40. Following the transaction, the insider now directly owns 50,181,335 shares in the company, valued at approximately $15,054,400.50. The disclosure for this purchase can be found here. 4.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in shares of OncoCyte in the 2nd quarter valued at about $25,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of OncoCyte in the 1st quarter valued at about $25,000. DCF Advisers LLC lifted its stake in shares of OncoCyte by 107.0% in the 1st quarter. DCF Advisers LLC now owns 25,149 shares of the company’s stock valued at $37,000 after purchasing an additional 13,000 shares during the period. Balyasny Asset Management LLC lifted its stake in shares of OncoCyte by 389.9% in the 3rd quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock valued at $39,000 after purchasing an additional 42,091 shares during the period. Finally, LPL Financial LLC lifted its stake in shares of OncoCyte by 58.1% in the 2nd quarter. LPL Financial LLC now owns 108,816 shares of the company’s stock valued at $98,000 after purchasing an additional 40,000 shares during the period. 81.20% of the stock is owned by institutional investors and hedge funds.

About OncoCyte

(Get Rating)

OncoCyte Corp. is a molecular diagnostics company, which engages in the development and commercialization of diagnostic tests for the detection of cancer, including molecular diagnostic services to pharmaceutical customers. Its products include DetermaRx and DetermaIO. The firm also offers pharmaceutical services like multi-analyte test development and clinical trial services.

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