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

Analysts at StockNews.com assumed coverage on shares of OncoCyte (NASDAQ:OCX) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the stock.

A number of other analysts also recently weighed in on OCX. Benchmark restated a “speculative buy” rating and issued a $5.00 target price on shares of OncoCyte in a report on Monday, April 15th. Needham & Company LLC restated a “buy” rating and issued a $4.25 target price on shares of OncoCyte in a report on Thursday, May 16th. Finally, Stephens restated an “equal weight” rating and issued a $4.00 target price on shares of OncoCyte in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.06.

OncoCyte Stock Performance

Shares of NASDAQ OCX opened at $2.83 on Friday. The firm’s fifty day moving average is $2.81 and its two-hundred day moving average is $3.04. OncoCyte has a 52-week low of $2.08 and a 52-week high of $4.86.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $2.92 per share, with a total value of $7,066,400.00. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Andrew Arno acquired 33,898 shares of the stock in a transaction on Thursday, April 11th. The stock was bought at an average cost of $2.95 per share, with a total value of $99,999.10. Following the transaction, the director now directly owns 69,054 shares in the company, valued at $203,709.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of the stock in a transaction on Thursday, April 11th. The stock was bought at an average cost of $2.92 per share, with a total value of $7,066,400.00. Following the completion of the transaction, the insider now owns 4,929,066 shares in the company, valued at $14,392,872.72. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 2,457,288 shares of company stock valued at $7,176,400. Company insiders own 1.94% of the company’s stock.

OncoCyte Company Profile

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.