OncoCyte Co. (NASDAQ:OCX) Major Shareholder Patrick W. Smith Buys 1,077,600 Shares

OncoCyte Co. (NASDAQ:OCX) major shareholder Patrick W. Smith acquired 1,077,600 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $2.05 per share, with a total value of $2,209,080.00. Following the completion of the purchase, the insider now directly owns 2,872,671 shares in the company, valued at $5,888,975.55. The trade was a 60.03 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

OncoCyte Stock Up 14.5 %

Shares of NASDAQ:OCX opened at $2.37 on Wednesday. The business’s 50-day moving average is $2.20 and its 200 day moving average is $2.71. OncoCyte Co. has a 1 year low of $1.92 and a 1 year high of $3.48.

OncoCyte (NASDAQ:OCX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.54). OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The business had revenue of $0.12 million for the quarter. During the same quarter in the prior year, the company earned ($0.57) earnings per share. On average, equities research analysts predict that OncoCyte Co. will post -2.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OCX. StockNews.com began coverage on OncoCyte in a research note on Monday, January 13th. They set a “sell” rating for the company. Needham & Company LLC restated a “buy” rating and set a $4.25 price objective on shares of OncoCyte in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OncoCyte stock. FNY Investment Advisers LLC grew its position in OncoCyte Co. (NASDAQ:OCX) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,377 shares of the company’s stock after purchasing an additional 6,481 shares during the period. FNY Investment Advisers LLC owned approximately 0.29% of OncoCyte worth $117,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 55.35% of the company’s stock.

OncoCyte Company Profile

OncoCyte Corporation, a precision diagnostics company, focuses on development and commercialization of proprietary tests in the United States and internationally. The company is developing DetermaIO, a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies; DetermaCNI, a blood-based monitoring tool for monitoring therapeutic efficacy in cancer patients; and VitaGraft, a blood-based solid organ transplantation monitoring test.