Broadwood Partners, L.P. Acquires 2,420,000 Shares of OncoCyte Co. (NASDAQ:OCX) Stock

OncoCyte Co. (NASDAQ:OCX) major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of OncoCyte stock in a transaction on Thursday, April 11th. The stock was purchased at an average cost of $2.92 per share, for a total transaction of $7,066,400.00. Following the purchase, the insider now owns 4,929,066 shares in the company, valued at $14,392,872.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

OncoCyte Stock Down 5.8 %

NASDAQ OCX opened at $2.59 on Thursday. OncoCyte Co. has a 52 week low of $2.08 and a 52 week high of $6.80. The company has a fifty day moving average of $2.95 and a two-hundred day moving average of $3.06.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on OCX shares. StockNews.com started coverage on shares of OncoCyte in a report on Thursday. They issued a “sell” rating for the company. Benchmark restated a “speculative buy” rating and issued a $5.00 target price on shares of OncoCyte in a report on Monday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $4.00 price target on shares of OncoCyte in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.90.

Institutional Trading of OncoCyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in OncoCyte by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 247,873 shares of the company’s stock valued at $620,000 after acquiring an additional 7,784 shares during the last quarter. DCF Advisers LLC grew its holdings in shares of OncoCyte by 107.0% in the first quarter. DCF Advisers LLC now owns 25,149 shares of the company’s stock worth $37,000 after purchasing an additional 13,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in OncoCyte in the 1st quarter worth about $25,000. Goldman Sachs Group Inc. increased its stake in OncoCyte by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 460,004 shares of the company’s stock worth $686,000 after buying an additional 24,964 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in OncoCyte during the 2nd quarter valued at about $25,000. 55.35% of the stock is owned by hedge funds and other institutional investors.

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.