Oncocyte (NASDAQ:IMDX) Releases Quarterly Earnings Results

Oncocyte (NASDAQ:IMDX) released its quarterly earnings data on Wednesday. The company reported ($0.28) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $0.03 million for the quarter.

Oncocyte Price Performance

IMDX traded up $0.12 during mid-day trading on Wednesday, reaching $5.10. 286,455 shares of the stock were exchanged, compared to its average volume of 459,284. The stock has a market capitalization of $164.68 million, a PE ratio of -3.15 and a beta of 1.63. The business has a 50 day moving average of $4.17. Oncocyte has a 1 year low of $2.33 and a 1 year high of $8.51.

Analysts Set New Price Targets

IMDX has been the subject of several research analyst reports. Wall Street Zen lowered shares of Oncocyte from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Lake Street Capital boosted their price target on shares of Oncocyte from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.00.

Insider Transactions at Oncocyte

In other news, major shareholder Broadwood Partners, L.P. acquired 280,381 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were purchased at an average cost of $3.50 per share, with a total value of $981,333.50. Following the acquisition, the insider directly owned 12,395,081 shares of the company’s stock, valued at $43,382,783.50. The trade was a 2.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 753,045 shares of company stock worth $2,685,120. 2.05% of the stock is owned by insiders.

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.