OncoCyte (NASDAQ:OCX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research note published on Thursday morning. The brokerage issued a sell rating on the stock.

Other equities analysts have also recently issued reports about the stock. Benchmark restated a speculative buy rating and issued a $5.00 target price on shares of OncoCyte in a research report on Monday. Stephens restated an equal weight rating and issued a $4.00 target price on shares of OncoCyte in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, OncoCyte has an average rating of Hold and an average price target of $3.90.

OncoCyte Price Performance

NASDAQ OCX opened at $2.56 on Thursday. OncoCyte has a 12-month low of $2.08 and a 12-month high of $6.20. The firm has a 50-day moving average price of $2.94 and a two-hundred day moving average price of $3.05.

Insider Buying and Selling

In other OncoCyte news, major shareholder Broadwood Partners, L.P. bought 2,420,000 shares of OncoCyte stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $2.92 per share, with a total value of $7,066,400.00. Following the acquisition, the insider now directly owns 4,929,066 shares of the company’s stock, valued at approximately $14,392,872.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Andrew Arno acquired 33,898 shares of OncoCyte stock in a transaction dated Thursday, April 11th. The shares were bought at an average cost of $2.95 per share, with a total value of $99,999.10. Following the purchase, the director now owns 69,054 shares in the company, valued at approximately $203,709.30. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of OncoCyte stock in a transaction dated Thursday, April 11th. The stock was purchased at an average cost of $2.92 per share, for a total transaction of $7,066,400.00. Following the completion of the purchase, the insider now owns 4,929,066 shares in the company, valued at approximately $14,392,872.72. The disclosure for this purchase can be found here. Insiders purchased a total of 2,457,288 shares of company stock worth $7,176,400 in the last three months. 1.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in OncoCyte by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 247,873 shares of the company’s stock worth $620,000 after buying an additional 7,784 shares during the last quarter. Renaissance Technologies LLC raised its holdings in OncoCyte by 131.7% during the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock worth $32,000 after buying an additional 78,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in OncoCyte by 23.8% during the second quarter. Geode Capital Management LLC now owns 1,228,553 shares of the company’s stock worth $283,000 after buying an additional 236,099 shares during the last quarter. Balyasny Asset Management LLC raised its holdings in OncoCyte by 389.9% during the third quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock worth $39,000 after buying an additional 42,091 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in OncoCyte by 17.8% during the second quarter. Goldman Sachs Group Inc. now owns 541,983 shares of the company’s stock worth $487,000 after buying an additional 81,979 shares during the last quarter. 55.35% of the stock is owned by institutional investors.

About OncoCyte

OncoCyte Corporation, a molecular diagnostics company, research, develops, and commercializes proprietary laboratory-developed tests for the detection of cancer in the United States and internationally. The company offers DetermaRx, a molecular test for early-stage adenocarcinoma of the lung; and DetermaIO, a proprietary gene expression assay.