OncoCyte Co. (NYSEAMERICAN:OCX) Given Consensus Rating of “Buy” by Analysts

OncoCyte Co. (NYSEAMERICAN:OCX – Get Rating) has been given an average recommendation of “Buy” by the five analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $4.10.

A number of analysts have recently commented on OCX shares. Stephens lowered OncoCyte from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, May 24th. Lake Street Capital lowered their price objective on OncoCyte from $11.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, March 11th. Piper Sandler lowered their price objective on OncoCyte from $1.80 to $1.40 in a research report on Sunday, May 15th. Finally, Needham & Company LLC lowered their price objective on OncoCyte from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, March 11th.

In other news, major shareholder Broadwood Partners, L.P. acquired 6,003,752 shares of the firm’s stock in a transaction dated Thursday, April 14th. The stock was purchased at an average price of $1.33 per share, for a total transaction of $7,984,990.16. Following the completion of the acquisition, the insider now directly owns 23,353,697 shares in the company, valued at approximately $31,060,417.01. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.06% of the company’s stock.

Several large investors have recently made changes to their positions in OCX. BlackRock Inc. boosted its position in OncoCyte by 14.3% in the fourth quarter. BlackRock Inc. now owns 4,993,146 shares of the biotechnology company’s stock worth $10,834,000 after purchasing an additional 624,410 shares during the last quarter. Vanguard Group Inc. boosted its position in OncoCyte by 2.3% in the first quarter. Vanguard Group Inc. now owns 3,986,270 shares of the biotechnology company’s stock worth $5,940,000 after purchasing an additional 90,534 shares during the last quarter. Defender Capital LLC. boosted its position in OncoCyte by 15.6% in the first quarter. Defender Capital LLC. now owns 2,562,130 shares of the biotechnology company’s stock worth $4,001,000 after purchasing an additional 345,330 shares during the last quarter. Geode Capital Management LLC boosted its position in OncoCyte by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 1,219,404 shares of the biotechnology company’s stock worth $2,646,000 after purchasing an additional 62,570 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in OncoCyte by 12.0% in the third quarter. Two Sigma Advisers LP now owns 740,700 shares of the biotechnology company’s stock worth $2,637,000 after purchasing an additional 79,300 shares during the last quarter. 93.59% of the stock is currently owned by institutional investors.

NYSEAMERICAN:OCX opened at $0.97 on Friday. The stock has a market capitalization of $96.44 million, a P/E ratio of -1.25 and a beta of 1.88. OncoCyte has a twelve month low of $0.96 and a twelve month high of $6.25.

OncoCyte (NYSEAMERICAN:OCX – Get Rating) last announced its quarterly earnings results on Wednesday, May 11th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. OncoCyte had a negative return on equity of 52.12% and a negative net margin of 877.80%. Equities analysts predict that OncoCyte will post -0.5 EPS for the current fiscal year.

About OncoCyte (Get Rating)

OncoCyte Corporation, a molecular diagnostics company, researches, 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.

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