OncoCyte (NASDAQ:OCX) Releases Earnings Results, Misses Expectations By $0.54 EPS

OncoCyte (NASDAQ:OCX) announced its quarterly earnings data on Tuesday. The company reported ($0.98) earnings per share 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 firm had revenue of $0.12 million during the quarter. During the same period last year, the business posted ($0.57) EPS.

OncoCyte Price Performance

OCX traded down $0.02 during trading on Thursday, reaching $2.92. 1,536 shares of the stock traded hands, compared to its average volume of 36,133. The stock’s 50-day simple moving average is $3.04 and its two-hundred day simple moving average is $2.98. OncoCyte has a fifty-two week low of $2.29 and a fifty-two week high of $4.34.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on OCX shares. StockNews.com began coverage on OncoCyte in a research note on Thursday. They issued a “sell” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $4.25 target price on shares of OncoCyte in a research report on Wednesday.

Insider Activity at OncoCyte

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

About OncoCyte

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.