OncoCyte’s (OCX) “Buy” Rating Reaffirmed at Needham & Company LLC

OncoCyte (NASDAQ:OCX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $4.25 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 27.63% from the stock’s current price.

Separately, StockNews.com began coverage on OncoCyte in a report on Monday, January 13th. They set a “sell” rating on the stock.

OncoCyte Stock Down 2.1 %

OCX opened at $3.33 on Tuesday. The company has a fifty day moving average price of $2.71 and a two-hundred day moving average price of $2.72. OncoCyte has a 52 week low of $1.92 and a 52 week high of $4.75.

Insider Activity at OncoCyte

In related news, CFO Andrea S. James purchased 97,561 shares of OncoCyte stock in a transaction dated Friday, February 7th. The stock was bought at an average price of $2.05 per share, for a total transaction of $200,000.05. Following the completion of the acquisition, the chief financial officer now directly owns 151,231 shares of the company’s stock, valued at $310,023.55. This represents a 181.78 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Patrick W. Smith acquired 1,077,600 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $2.05 per share, for a total transaction of $2,209,080.00. Following the completion of the acquisition, the insider now owns 2,872,671 shares of the company’s stock, valued at $5,888,975.55. This trade represents a 60.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 1,288,344 shares of company stock worth $2,649,051 in the last quarter. Corporate insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On OncoCyte

A number of large investors have recently added to or reduced their stakes in OCX. Broadwood Capital Inc. boosted its position in shares of OncoCyte by 26.7% during the fourth quarter. Broadwood Capital Inc. now owns 6,244,405 shares of the company’s stock worth $14,862,000 after buying an additional 1,315,339 shares during the period. Pura Vida Investments LLC lifted its stake in OncoCyte by 32.1% in the 4th quarter. Pura Vida Investments LLC now owns 654,451 shares of the company’s stock valued at $1,558,000 after acquiring an additional 159,106 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new position in OncoCyte during the 4th quarter worth approximately $126,000. Geode Capital Management LLC grew its stake in shares of OncoCyte by 31.8% during the 4th quarter. Geode Capital Management LLC now owns 137,069 shares of the company’s stock worth $326,000 after acquiring an additional 33,089 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of OncoCyte in the fourth quarter valued at approximately $31,000. 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.