Benchmark Reaffirms Speculative Buy Rating for OncoCyte (NASDAQ:OCX)

Benchmark reaffirmed their speculative buy rating on shares of OncoCyte (NASDAQ:OCX) in a report released on Monday, Benzinga reports. The firm currently has a $5.00 price target on the stock.

Separately, StockNews.com began coverage on shares of OncoCyte in a research report on Friday, April 12th. They issued a sell rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $3.90.

OncoCyte Stock Performance

OCX stock opened at $2.59 on Monday. The company’s 50 day moving average is $2.95 and its 200 day moving average is $3.06. OncoCyte has a 1-year low of $2.08 and a 1-year high of $6.80.

Insiders Place Their Bets

In other news, Director Andrew Arno bought 33,898 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average price of $2.95 per share, with a total value of $99,999.10. Following the completion of the purchase, the director now directly owns 69,054 shares in the company, valued at $203,709.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was purchased at an average price of $2.92 per share, with a total value of $7,066,400.00. Following the completion of the purchase, the insider now owns 4,929,066 shares in the company, valued at approximately $14,392,872.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew Arno acquired 33,898 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $2.95 per share, with a total value of $99,999.10. Following the purchase, the director now owns 69,054 shares of the company’s stock, valued at approximately $203,709.30. The disclosure for this purchase can be found here. Insiders bought a total of 2,457,288 shares of company stock valued at $7,176,400 over the last quarter. 1.94% of the stock is owned by corporate insiders.

Institutional Trading of OncoCyte

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in OncoCyte by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 247,873 shares of the company’s stock worth $620,000 after acquiring an additional 7,784 shares during the period. Renaissance Technologies LLC lifted its stake in OncoCyte by 131.7% in the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock worth $32,000 after acquiring an additional 78,500 shares during the period. Geode Capital Management LLC lifted its stake in OncoCyte by 23.8% in the second quarter. Geode Capital Management LLC now owns 1,228,553 shares of the company’s stock worth $283,000 after acquiring an additional 236,099 shares during the period. Balyasny Asset Management LLC lifted its stake in OncoCyte by 389.9% in the third quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock worth $39,000 after acquiring an additional 42,091 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in OncoCyte by 17.8% in the second quarter. Goldman Sachs Group Inc. now owns 541,983 shares of the company’s stock worth $487,000 after acquiring an additional 81,979 shares during the period. Hedge funds and other institutional investors own 55.35% of the company’s stock.

About OncoCyte

OncoCyte Corporation, a molecular diagnostics company, research, develops, and commercializes proprietary laboratory-developed tests for the detection of cancer in the United States and internationally. The company offers DetermaRx, a molecular test for early-stage adenocarcinoma of the lung; and DetermaIO, a proprietary gene expression assay.