OncoCyte (NASDAQ:OCX) Receives “Buy” Rating from Needham & Company LLC

OncoCyte (NASDAQ:OCX)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $4.25 target price on the stock. Needham & Company LLC’s price target would indicate a potential upside of 27.63% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of OncoCyte in a report on Monday, January 13th. They issued a “sell” rating on the stock.

OncoCyte Price Performance

NASDAQ OCX opened at $3.33 on Tuesday. OncoCyte has a 12 month low of $1.92 and a 12 month high of $4.75. The stock has a 50 day moving average of $2.71 and a 200-day moving average of $2.72.

Insider Buying and Selling

In other news, Director Andrew Arno purchased 12,500 shares of OncoCyte stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average cost of $2.11 per share, for a total transaction of $26,375.00. Following the purchase, the director now directly owns 81,554 shares of the company’s stock, valued at $172,078.94. This trade represents a 18.10 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Patrick W. Smith acquired 90,219 shares of the stock in a transaction on Thursday, December 26th. The shares were purchased at an average price of $2.13 per share, for a total transaction of $192,166.47. Following the transaction, the insider now directly owns 1,773,903 shares in the company, valued at approximately $3,778,413.39. This trade represents a 5.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,288,344 shares of company stock valued at $2,649,051. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ground Swell Capital LLC acquired a new stake in OncoCyte during the fourth quarter worth approximately $26,000. Two Sigma Securities LLC acquired a new position in OncoCyte in the 4th quarter valued at $31,000. FNY Investment Advisers LLC lifted its position in shares of OncoCyte by 15.1% during the 4th quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company’s stock valued at $117,000 after acquiring an additional 6,481 shares during the period. Wealthedge Investment Advisors LLC acquired a new stake in shares of OncoCyte during the 4th quarter worth $126,000. Finally, Geode Capital Management LLC increased its position in shares of OncoCyte by 12.2% in the third quarter. Geode Capital Management LLC now owns 103,980 shares of the company’s stock worth $296,000 after purchasing an additional 11,289 shares during the period. 55.35% of the stock is owned by 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.