OncoCyte Corp (NYSEAMERICAN:OCX) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,160,000 shares, a decline of 7.2% from the January 15th total of 1,250,000 shares. Based on an average trading volume of 290,900 shares, the short-interest ratio is presently 4.0 days. Approximately 2.5% of the shares of the company are short sold.
Shares of OCX stock opened at $2.51 on Friday. OncoCyte has a 52 week low of $1.50 and a 52 week high of $5.60.
OncoCyte (NYSEAMERICAN:OCX) last issued its quarterly earnings data on Thursday, November 14th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01).
In related news, major shareholder Broadwood Partners, L.P. bought 1,391,466 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was bought at an average cost of $2.16 per share, for a total transaction of $3,005,566.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and other institutional investors have recently modified their holdings of OCX. Northern Trust Corp boosted its position in shares of OncoCyte by 32.4% during the second quarter. Northern Trust Corp now owns 73,973 shares of the biotechnology company’s stock worth $184,000 after buying an additional 18,100 shares during the period. BlackRock Inc. boosted its position in shares of OncoCyte by 1,136.2% during the second quarter. BlackRock Inc. now owns 1,553,990 shares of the biotechnology company’s stock worth $3,869,000 after buying an additional 1,428,288 shares during the period. Vanguard Group Inc. boosted its position in shares of OncoCyte by 12.4% during the second quarter. Vanguard Group Inc. now owns 1,413,924 shares of the biotechnology company’s stock worth $3,521,000 after buying an additional 156,505 shares during the period. Emerald Mutual Fund Advisers Trust boosted its position in shares of OncoCyte by 2.1% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 2,430,180 shares of the biotechnology company’s stock worth $5,103,000 after buying an additional 50,000 shares during the period. Finally, State Street Corp boosted its position in shares of OncoCyte by 19.4% during the third quarter. State Street Corp now owns 420,833 shares of the biotechnology company’s stock worth $884,000 after buying an additional 68,513 shares during the period.
A number of brokerages have commented on OCX. Chardan Capital restated a “buy” rating and issued a $7.75 target price on shares of OncoCyte in a research note on Friday, November 15th. Zacks Investment Research downgraded OncoCyte from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th.
OncoCyte Company Profile
OncoCyte Corporation focuses on the development and commercialization of novel and non-invasive blood and urine (liquid biopsy) diagnostic tests for the early detection of cancer. The company is developing diagnostic tests using genetic and protein markers expressed in various types of cancer. It develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancer.
Further Reading: Trading Ex-Dividend
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