OncoCyte (NASDAQ:OCX) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a report issued on Thursday morning. The firm issued a sell rating on the stock.

Several other research analysts have also issued reports on OCX. Stephens restated an equal weight rating and issued a $4.00 price target on shares of OncoCyte in a research report on Wednesday. Benchmark reissued a speculative buy rating and set a $5.00 target price on shares of OncoCyte in a research note on Monday. One 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 company. Based on data from MarketBeat.com, OncoCyte presently has a consensus rating of Hold and an average price target of $3.90.

OncoCyte Price Performance

Shares of NASDAQ OCX opened at $2.56 on Thursday. The firm’s 50-day moving average price is $2.94 and its two-hundred day moving average price is $3.05. OncoCyte has a 52-week low of $2.08 and a 52-week high of $6.20.

Insider Buying and Selling at OncoCyte

In other news, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of OncoCyte stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost 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 $14,392,872.72. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Broadwood Partners, L.P. bought 2,420,000 shares of OncoCyte stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $2.92 per share, for a total transaction of $7,066,400.00. Following the completion of the transaction, the insider now owns 4,929,066 shares of the company’s stock, valued at $14,392,872.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Arno bought 33,898 shares of OncoCyte stock in a transaction dated Thursday, April 11th. The shares were bought at an average price of $2.95 per share, for a total transaction of $99,999.10. Following the completion of the transaction, the director now directly 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 have bought a total of 2,457,288 shares of company stock worth $7,176,400 over the last ninety days. Corporate insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On OncoCyte

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of OncoCyte by 2.3% during the first 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. Geode Capital Management LLC lifted its holdings in OncoCyte by 23.8% in the second quarter. Geode Capital Management LLC now owns 1,228,553 shares of the company’s stock valued at $283,000 after buying an additional 236,099 shares during the period. Millennium Management LLC acquired a new position in OncoCyte in the second quarter valued at approximately $896,000. Goldman Sachs Group Inc. lifted its holdings in OncoCyte by 17.8% in the second quarter. Goldman Sachs Group Inc. now owns 541,983 shares of the company’s stock valued at $487,000 after buying an additional 81,979 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in OncoCyte by 131.7% in the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock valued at $32,000 after buying an additional 78,500 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.