Stephens Reiterates “Equal Weight” Rating for OncoCyte (NASDAQ:OCX)

Stephens restated their equal weight rating on shares of OncoCyte (NASDAQ:OCX) in a report issued on Wednesday morning, Benzinga reports. They currently have a $4.00 price target on the stock.

Several other analysts have also recently commented on the company. Benchmark reiterated a speculative buy rating and issued a $5.00 target price on shares of OncoCyte in a report on Monday. StockNews.com assumed coverage on OncoCyte in a report on Friday, April 12th. They issued a sell rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $3.90.

OncoCyte Stock Performance

NASDAQ:OCX opened at $2.59 on Wednesday. The stock’s 50-day moving average is $2.95 and its 200-day moving average is $3.06. OncoCyte has a 1-year low of $2.08 and a 1-year high of $6.80.

Insider Buying and Selling at OncoCyte

In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $2.92 per share, with a total value of $7,066,400.00. Following the completion of the purchase, the insider now owns 4,929,066 shares in the company, valued at $14,392,872.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other OncoCyte news, major shareholder Broadwood Partners, L.P. purchased 2,420,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were purchased at an average cost of $2.92 per share, with a total value of $7,066,400.00. Following the completion of the purchase, the insider now owns 4,929,066 shares in the company, valued at $14,392,872.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrew Arno bought 33,898 shares of the stock in a transaction dated Thursday, April 11th. The shares were purchased at an average cost of $2.95 per share, for a total transaction of $99,999.10. Following the completion of the transaction, the director now directly owns 69,054 shares of the company’s stock, valued at $203,709.30. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,457,288 shares of company stock valued at $7,176,400. 1.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OncoCyte

Institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in OncoCyte during the second quarter worth $25,000. Raymond James Financial Services Advisors Inc. bought a new stake in OncoCyte during the first quarter worth $25,000. Renaissance Technologies LLC grew its holdings in OncoCyte by 131.7% during the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock worth $32,000 after buying an additional 78,500 shares in the last quarter. DCF Advisers LLC grew its holdings in OncoCyte by 107.0% during the first quarter. DCF Advisers LLC now owns 25,149 shares of the company’s stock worth $37,000 after buying an additional 13,000 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its holdings in OncoCyte by 389.9% during the third quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock worth $39,000 after buying an additional 42,091 shares in the last quarter. 55.35% of the stock is owned by institutional investors and hedge funds.

OncoCyte Company Profile

OncoCyte Corporation, a molecular diagnostics company, research, 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.