Patrick W. Smith Acquires 90,219 Shares of OncoCyte Co. (NASDAQ:OCX) Stock

OncoCyte Co. (NASDAQ:OCX) major shareholder Patrick W. Smith bought 90,219 shares of the stock in a transaction dated Thursday, December 26th. The shares were acquired at an average price of $2.13 per share, for a total transaction of $192,166.47. Following the completion of the transaction, the insider now owns 1,773,903 shares of the company’s stock, valued at approximately $3,778,413.39. The trade was a 5.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

OncoCyte Stock Performance

OncoCyte stock opened at $2.38 on Thursday. The business has a 50 day simple moving average of $2.58 and a 200-day simple moving average of $2.89. OncoCyte Co. has a 12 month low of $1.97 and a 12 month high of $3.82.

OncoCyte (NASDAQ:OCX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.54). The firm 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 period in the prior year, the firm posted ($0.57) EPS. As a group, research analysts anticipate that OncoCyte Co. will post -2.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OCX shares. StockNews.com began coverage on shares of OncoCyte in a research note on Wednesday. They set a “sell” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $4.25 target price on shares of OncoCyte in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in OncoCyte stock. Geode Capital Management LLC grew its holdings in shares of OncoCyte Co. (NASDAQ:OCX) by 12.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,980 shares of the company’s stock after purchasing an additional 11,289 shares during the period. Geode Capital Management LLC owned approximately 0.62% of OncoCyte worth $296,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 55.35% of the company’s stock.

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.