OncoCyte (NASDAQ:OCX) Earns “Speculative Buy” Rating from Benchmark

Benchmark reaffirmed their speculative buy rating on shares of OncoCyte (NASDAQ:OCX) in a research report sent to investors on Monday, Benzinga reports. They currently have a $5.00 price target on the stock.

Separately, StockNews.com started coverage on shares of OncoCyte in a research report on Friday, April 12th. They set a sell rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $3.90.

OncoCyte Stock Down 1.2 %

NASDAQ:OCX opened at $2.56 on Monday. OncoCyte has a 1 year low of $2.08 and a 1 year high of $6.20. The stock’s 50 day simple moving average is $2.94 and its two-hundred day simple moving average is $3.05.

Insider Activity

In related news, Director Andrew Arno purchased 33,898 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was bought 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 in the company, valued at $203,709.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Andrew Arno purchased 33,898 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were bought at an average cost of $2.95 per share, for a total transaction of $99,999.10. Following the acquisition, the director now owns 69,054 shares of the company’s stock, valued at approximately $203,709.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Broadwood Partners, L.P. acquired 2,420,000 shares of OncoCyte stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $2.92 per share, for a total transaction of $7,066,400.00. Following the completion of the transaction, the insider now directly owns 4,929,066 shares in the company, valued at $14,392,872.72. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,457,288 shares of company stock valued at $7,176,400. 1.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OncoCyte

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in OncoCyte by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 3,986,270 shares of the company’s stock valued at $5,940,000 after buying an additional 90,534 shares during the period. Millennium Management LLC purchased a new stake in shares of OncoCyte in the second quarter valued at approximately $896,000. Goldman Sachs Group Inc. grew its stake in OncoCyte by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 460,004 shares of the company’s stock worth $686,000 after purchasing an additional 24,964 shares in the last quarter. Geode Capital Management LLC grew its stake in OncoCyte by 23.8% in the second quarter. Geode Capital Management LLC now owns 1,228,553 shares of the company’s stock worth $283,000 after purchasing an additional 236,099 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in OncoCyte by 58.1% during the 2nd quarter. LPL Financial LLC now owns 108,816 shares of the company’s stock worth $98,000 after purchasing an additional 40,000 shares during the period. 55.35% of the stock is owned by institutional investors.

About OncoCyte

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.