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

Equities researchers at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Thursday. The firm set a “sell” rating on the stock.

Other analysts also recently issued research reports about the stock. Stephens reissued an “equal weight” rating and issued a $4.00 price objective on shares of OncoCyte in a report on Wednesday. Benchmark reissued a “speculative buy” rating and issued a $5.00 price objective on shares of OncoCyte in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.90.

OncoCyte Trading Down 2.3 %

Shares of OCX opened at $2.50 on Thursday. OncoCyte has a 52 week low of $2.08 and a 52 week high of $6.20. The firm’s 50-day simple moving average is $2.93 and its 200 day simple moving average is $3.05.

Insider Transactions at OncoCyte

In other news, Director Andrew Arno purchased 33,898 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $2.95 per share, with a total value of $99,999.10. Following the acquisition, the director now owns 69,054 shares in the company, valued at approximately $203,709.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was bought at an average price of $2.92 per share, with a total value of $7,066,400.00. Following the acquisition, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Arno purchased 33,898 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average cost of $2.95 per share, with a total value of $99,999.10. Following the acquisition, the director now owns 69,054 shares in the company, valued at approximately $203,709.30. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,457,288 shares of company stock valued at $7,176,400. Company insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On OncoCyte

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in OncoCyte by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 3,986,270 shares of the company’s stock worth $5,940,000 after purchasing an additional 90,534 shares in the last quarter. Millennium Management LLC acquired a new position in OncoCyte during the 2nd quarter worth approximately $896,000. Goldman Sachs Group Inc. increased its position in OncoCyte by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 460,004 shares of the company’s stock valued at $686,000 after acquiring an additional 24,964 shares during the period. Geode Capital Management LLC increased its position in OncoCyte by 23.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,228,553 shares of the company’s stock valued at $283,000 after acquiring an additional 236,099 shares during the period. Finally, LPL Financial LLC increased its position in 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 acquiring an additional 40,000 shares during the period. 55.35% of the stock is currently owned by institutional investors and hedge funds.

OncoCyte Company Profile

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.