Oncocyte (NASDAQ:IMDX) Stock Price Down 4.4% – Here’s What Happened

Oncocyte Corp (NASDAQ:IMDX)’s share price was down 4.4% on Friday . The company traded as low as $4.73 and last traded at $4.74. 74,354 shares changed hands during trading, a decline of 62% from the average daily volume of 194,859 shares. The stock had previously closed at $4.96.

Wall Street Analysts Forecast Growth

IMDX has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Oncocyte from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.00.

Oncocyte Stock Performance

The stock has a market cap of $153.05 million, a P/E ratio of -3.20 and a beta of 1.76. The stock has a 50-day moving average price of $5.52 and a 200-day moving average price of $5.33.

Oncocyte (NASDAQ:IMDX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.28) EPS for the quarter. The firm had revenue of $0.03 million during the quarter.

Insider Buying and Selling

In related news, major shareholder Broadwood Partners, L.P. purchased 250,923 shares of the business’s stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $3.64 per share, with a total value of $913,359.72. Following the purchase, the insider directly owned 12,684,884 shares in the company, valued at approximately $46,172,977.76. This represents a 2.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is currently owned by corporate insiders.

Oncocyte Company Profile

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.