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

StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research note published on Wednesday. The firm issued a sell rating on the stock.

OCX has been the topic of several other research reports. Stephens reaffirmed an equal weight rating and issued a $4.00 price target on shares of OncoCyte in a research note on Wednesday, April 17th. Benchmark reaffirmed a speculative buy rating and issued a $5.00 price target on shares of OncoCyte in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $4.06.

OncoCyte Stock Performance

OCX opened at $2.48 on Wednesday. OncoCyte has a 1 year low of $2.08 and a 1 year high of $6.20. The stock’s 50 day simple moving average is $2.90 and its 200-day simple moving average is $3.03.

Insiders Place Their Bets

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

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.