OncoCyte (NASDAQ:OCX) Releases Earnings Results, Misses Estimates By $0.54 EPS

OncoCyte (NASDAQ:OCX) issued its quarterly earnings data on Tuesday. The company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54), Zacks reports. The company had revenue of $0.12 million for the quarter. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. During the same period in the previous year, the firm posted ($0.57) earnings per share.

OncoCyte Price Performance

NASDAQ:OCX opened at $2.80 on Friday. OncoCyte has a 1-year low of $2.29 and a 1-year high of $4.34. The business’s 50-day moving average price is $3.03 and its two-hundred day moving average price is $2.98.

Insider Transactions at OncoCyte

In related news, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the transaction, the insider now owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. The trade was a 26.69 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrea S. James bought 33,670 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average price of $2.97 per share, with a total value of $99,999.90. Following the acquisition, the chief financial officer now owns 33,670 shares in the company, valued at approximately $99,999.90. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.58% of the company’s stock.

Wall Street Analyst Weigh In

OCX has been the subject of several research analyst reports. StockNews.com assumed coverage on OncoCyte in a research report on Thursday. They issued a “sell” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $4.25 price target on shares of OncoCyte in a research report on Wednesday.

About OncoCyte

OncoCyte Corporation, a precision diagnostics company, focuses on development and commercialization of proprietary tests in the United States and internationally. The company is developing DetermaIO, a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies; DetermaCNI, a blood-based monitoring tool for monitoring therapeutic efficacy in cancer patients; and VitaGraft, a blood-based solid organ transplantation monitoring test.