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

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

OCX has been the topic of several other reports. Stephens reaffirmed an equal weight rating and issued a $4.00 price target on shares of OncoCyte in a report on Wednesday. Benchmark reaffirmed a speculative buy rating and issued a $5.00 price target on shares of OncoCyte in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $3.90.

OncoCyte Stock Down 2.3 %

NASDAQ OCX opened at $2.50 on Thursday. The firm’s fifty day simple moving average is $2.93 and its two-hundred day simple moving average is $3.05. OncoCyte has a 12-month low of $2.08 and a 12-month high of $6.20.

Insider Transactions at OncoCyte

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in shares of OncoCyte in the second quarter worth about $25,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of OncoCyte in the first quarter worth about $25,000. Renaissance Technologies LLC raised its position in shares of OncoCyte by 131.7% in the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock worth $32,000 after acquiring an additional 78,500 shares during the period. DCF Advisers LLC raised its position in shares of OncoCyte by 107.0% in the first quarter. DCF Advisers LLC now owns 25,149 shares of the company’s stock worth $37,000 after acquiring an additional 13,000 shares during the period. Finally, Balyasny Asset Management LLC raised its position in shares of OncoCyte by 389.9% in the third quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock worth $39,000 after acquiring an additional 42,091 shares during the period. 55.35% of the stock is currently owned by institutional investors and hedge funds.

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.