OncoCyte (NASDAQ:OCX) Issues Earnings Results

OncoCyte (NASDAQ:OCX) released its quarterly earnings results on Tuesday. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.54), Zacks reports. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 237.81%. The business had revenue of $0.12 million during the quarter. During the same quarter in the previous year, the company earned ($0.57) EPS.

OncoCyte Price Performance

Shares of OCX opened at $2.94 on Thursday. OncoCyte has a 1 year low of $2.29 and a 1 year high of $4.34. The company’s 50 day simple moving average is $3.04 and its 200 day simple moving average is $2.98.

Insider Buying and Selling at OncoCyte

In other OncoCyte news, major shareholder Broadwood Partners, L.P. acquired 1,315,339 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were acquired at an average price of $2.95 per share, for a total transaction of $3,880,250.05. Following the completion of the acquisition, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Andrea S. James bought 33,670 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $2.97 per share, for a total transaction of $99,999.90. Following the completion of the acquisition, the chief financial officer now owns 33,670 shares in the company, valued at $99,999.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Broadwood Partners, L.P. purchased 1,315,339 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average cost of $2.95 per share, with a total value of $3,880,250.05. Following the transaction, the insider now directly owns 6,244,405 shares of the company’s stock, valued at $18,420,994.75. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OCX. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.25 target price on shares of OncoCyte in a research note on Wednesday. StockNews.com started coverage on OncoCyte in a research report on Thursday. They issued a “sell” rating on the 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.