Insider Buying: OncoCyte Co. (NASDAQ:OCX) Major Shareholder Purchases 5,669 Shares of Stock

OncoCyte Co. (NASDAQ:OCX) major shareholder Patrick W. Smith purchased 5,669 shares of OncoCyte stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of $2.08 per share, with a total value of $11,791.52. Following the completion of the transaction, the insider now owns 1,779,572 shares of the company’s stock, valued at $3,701,509.76. This represents a 0.32 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

OncoCyte Stock Up 2.3 %

Shares of OCX stock opened at $2.20 on Thursday. The stock has a 50 day simple moving average of $2.42 and a 200-day simple moving average of $2.85. OncoCyte Co. has a 1-year low of $1.97 and a 1-year high of $3.57.

OncoCyte (NASDAQ:OCX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.54). 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 quarter last year, the firm posted ($0.57) earnings per share. Analysts expect that OncoCyte Co. will post -2.57 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $4.25 target price on shares of OncoCyte in a report on Wednesday, November 13th. StockNews.com initiated coverage on shares of OncoCyte in a report on Monday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On OncoCyte

A hedge fund recently raised its stake in OncoCyte stock. Geode Capital Management LLC grew its position in OncoCyte Co. (NASDAQ:OCX) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,980 shares of the company’s stock after acquiring an additional 11,289 shares during the quarter. Geode Capital Management LLC owned about 0.62% of OncoCyte worth $296,000 as of its most recent SEC filing. Institutional investors and hedge funds own 55.35% 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.