OncoCyte Co. (NASDAQ:OCX) Major Shareholder Buys $2,209,080.00 in Stock

OncoCyte Co. (NASDAQ:OCX) major shareholder Patrick W. Smith acquired 1,077,600 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average cost of $2.05 per share, for a total transaction of $2,209,080.00. Following the completion of the acquisition, the insider now directly owns 2,872,671 shares of the company’s stock, valued at approximately $5,888,975.55. This trade represents a 60.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

OncoCyte Stock Up 14.5 %

OncoCyte stock opened at $2.37 on Wednesday. OncoCyte Co. has a 52 week low of $1.92 and a 52 week high of $3.48. The business’s 50-day moving average price is $2.20 and its 200 day moving average price is $2.71.

OncoCyte (NASDAQ:OCX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.54). The company had revenue of $0.12 million for the quarter. OncoCyte had a negative return on equity of 269.32% and a negative net margin of 6,122.29%. During the same quarter last year, the business posted ($0.57) earnings per share. Sell-side analysts forecast that OncoCyte Co. will post -2.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OCX. Needham & Company LLC reissued a “buy” rating and issued a $4.25 price objective on shares of OncoCyte in a report on Wednesday, November 13th. StockNews.com began coverage on OncoCyte in a report on Monday, January 13th. They set a “sell” rating on the stock.

Hedge Funds Weigh In On OncoCyte

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC boosted its holdings in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the quarter. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. 55.35% of the stock is owned by hedge funds and other institutional investors.

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.