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

StockNews.com started coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the stock.

OncoCyte Stock Performance

NASDAQ OCX opened at $2.53 on Friday. OncoCyte has a one year low of $2.08 and a one year high of $6.80. The company’s 50 day moving average price is $2.96 and its 200 day moving average price is $3.06.

Insider Activity at OncoCyte

In other news, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were bought at an average price of $2.92 per share, for a total transaction of $7,066,400.00. Following the completion of the purchase, the insider now directly owns 4,929,066 shares of the company’s stock, valued at approximately $14,392,872.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Andrew Arno acquired 33,898 shares of the company’s 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 purchase, the director now directly owns 69,054 shares of the company’s stock, valued at approximately $203,709.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average price of $2.92 per share, for a total transaction of $7,066,400.00. Following the purchase, the insider now directly owns 4,929,066 shares of the company’s stock, valued at $14,392,872.72. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,457,288 shares of company stock worth $7,176,400. Company insiders own 1.94% of the company’s stock.

Institutional Trading of OncoCyte

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of OncoCyte by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 247,873 shares of the company’s stock worth $620,000 after buying an additional 7,784 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of OncoCyte by 131.7% during the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock worth $32,000 after buying an additional 78,500 shares in the last quarter. Geode Capital Management LLC grew its position in shares of OncoCyte by 23.8% during the second quarter. Geode Capital Management LLC now owns 1,228,553 shares of the company’s stock worth $283,000 after buying an additional 236,099 shares in the last quarter. Balyasny Asset Management LLC grew its position in shares of OncoCyte by 389.9% during the third quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock worth $39,000 after buying an additional 42,091 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted 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 worth $487,000 after purchasing an additional 81,979 shares during the period. Institutional investors and hedge funds own 55.35% of the company’s stock.

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.