Lake Street Capital Cuts OncoCyte (NYSEAMERICAN:OCX) Price Target to $4.00
OncoCyte (NYSEAMERICAN:OCX) had its target price cut by stock analysts at Lake Street Capital from $6.00 to $4.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Lake Street Capital’s price objective would suggest a potential upside of 23.84% from the company’s previous close.
A number of other research firms have also weighed in on OCX. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of OncoCyte in a research report on Wednesday, June 17th. Zacks Investment Research lowered OncoCyte from a “hold” rating to a “sell” rating in a report on Tuesday, June 16th. Piper Sandler increased their target price on OncoCyte from $5.40 to $7.50 and gave the company an “overweight” rating in a report on Thursday, June 25th. Finally, Chardan Capital lowered OncoCyte from a “buy” rating to a “neutral” rating and dropped their target price for the company from $7.75 to $2.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $4.05.
Shares of OncoCyte stock opened at $3.23 on Tuesday. OncoCyte has a 1-year low of $1.50 and a 1-year high of $3.51.
In related news, major shareholder Broadwood Partners, L.P. purchased 1,050,000 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were bought at an average price of $2.24 per share, for a total transaction of $2,352,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in OncoCyte by 3.4% during the 4th quarter. State Street Corp now owns 435,208 shares of the biotechnology company’s stock worth $979,000 after buying an additional 14,375 shares during the period. P.A.W. Capital Corp increased its position in shares of OncoCyte by 40.0% in the 1st quarter. P.A.W. Capital Corp now owns 350,000 shares of the biotechnology company’s stock worth $858,000 after purchasing an additional 100,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of OncoCyte by 4.7% in the 1st quarter. Geode Capital Management LLC now owns 327,358 shares of the biotechnology company’s stock worth $802,000 after purchasing an additional 14,593 shares during the last quarter. Phoenix Holdings Ltd. bought a new stake in shares of OncoCyte in the 1st quarter worth about $628,000. Finally, Penbrook Management LLC increased its position in shares of OncoCyte by 21.9% in the 1st quarter. Penbrook Management LLC now owns 215,625 shares of the biotechnology company’s stock worth $529,000 after purchasing an additional 38,747 shares during the last quarter.
OncoCyte Corporation focuses on the development and commercialization of novel and non-invasive blood and urine (liquid biopsy) diagnostic tests for the early detection of cancer. The company is developing diagnostic tests using genetic and protein markers expressed in various types of cancer. It develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancer.
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