Oncocyte (NASDAQ:IMDX) Trading Down 4.4% – What’s Next?

Oncocyte Corp (NASDAQ:IMDX)’s stock price dropped 4.4% during trading on Friday . The company traded as low as $4.73 and last traded at $4.74. 74,354 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 194,859 shares. The stock had previously closed at $4.96.

Analyst Ratings Changes

Several research firms have issued reports on IMDX. Wall Street Zen upgraded Oncocyte from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Oncocyte Stock Performance

The stock’s 50-day moving average price is $5.52 and its 200-day moving average price is $5.33. The company has a market capitalization of $153.05 million, a price-to-earnings ratio of -3.20 and a beta of 1.76.

Oncocyte (NASDAQ:IMDX) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.28) EPS for the quarter. The firm had revenue of $0.03 million during the quarter.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. bought 250,923 shares of the stock in a transaction on Monday, April 27th. The shares were bought at an average price of $3.64 per share, with a total value of $913,359.72. Following the completion of the acquisition, the insider owned 12,684,884 shares of the company’s stock, valued at approximately $46,172,977.76. This trade represents a 2.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.21% of the company’s stock.

About Oncocyte

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.