Oncocyte (NASDAQ:IMDX) Releases Quarterly Earnings Results

Oncocyte (NASDAQ:IMDX) released its quarterly earnings results on Thursday. The company reported ($0.27) earnings per share for the quarter, FiscalAI reports. The company had revenue of $1.14 million for the quarter. Oncocyte had a negative return on equity of 5,096.60% and a negative net margin of 1,238.52%.

Oncocyte Stock Performance

Shares of NASDAQ IMDX opened at $3.56 on Friday. The stock has a market cap of $102.03 million, a PE ratio of -2.20 and a beta of 1.35. Oncocyte has a 12-month low of $2.33 and a 12-month high of $8.51. The company’s 50-day simple moving average is $5.63.

Insider Buying and Selling at Oncocyte

In related news, major shareholder Broadwood Partners, L.P. bought 521,739 shares of the stock in a transaction dated Tuesday, February 10th. The shares were acquired at an average cost of $5.75 per share, for a total transaction of $2,999,999.25. Following the acquisition, the insider directly owned 11,931,839 shares in the company, valued at approximately $68,608,074.25. This trade represents a 4.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.05% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

IMDX has been the subject of several research reports. Wall Street Zen lowered Oncocyte from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncocyte in a research note on Monday, December 29th. Finally, Lake Street Capital boosted their price target on Oncocyte from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Oncocyte currently has a consensus rating of “Hold” and a consensus target price of $12.00.

About Oncocyte

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.