StockNews.com Initiates Coverage on OncoCyte (NASDAQ:OCX)

Analysts at StockNews.com initiated coverage on shares of OncoCyte (NASDAQ:OCX) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

Other equities analysts have also recently issued reports about the stock. Stephens reaffirmed an “equal weight” rating and set a $4.00 price target on shares of OncoCyte in a research note on Wednesday, April 17th. Benchmark reaffirmed a “speculative buy” rating and set a $5.00 price target on shares of OncoCyte in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.06.

OncoCyte Stock Down 0.8 %

NASDAQ:OCX opened at $2.44 on Wednesday. OncoCyte has a fifty-two week low of $2.08 and a fifty-two week high of $6.20. The firm’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.04.

Insider Activity at OncoCyte

In other OncoCyte news, Director Andrew Arno acquired 33,898 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were purchased 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 $203,709.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Andrew Arno purchased 33,898 shares of the firm’s stock in a transaction on 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 directly owns 69,054 shares of the company’s stock, valued at $203,709.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were 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 directly owns 4,929,066 shares in the company, valued at $14,392,872.72. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,457,288 shares of company stock valued at $7,176,400. Insiders own 1.94% of the company’s stock.

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.