Millrace Asset Group Inc. bought a new position in OncoCyte Co. (NYSEAMERICAN:OCX) during the first quarter, according to its most recent filing with the SEC. The firm bought 228,040 shares of the biotechnology company’s stock, valued at approximately $1,184,000. Millrace Asset Group Inc. owned approximately 0.26% of OncoCyte as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of OCX. BlackRock Inc. raised its position in OncoCyte by 41.9% in the 1st quarter. BlackRock Inc. now owns 4,968,214 shares of the biotechnology company’s stock valued at $25,784,000 after buying an additional 1,466,183 shares during the last quarter. GW&K Investment Management LLC purchased a new stake in OncoCyte in the 1st quarter valued at $4,035,000. Defender Capital LLC. purchased a new stake in OncoCyte in the 1st quarter valued at $3,122,000. Pura Vida Investments LLC raised its position in OncoCyte by 4.3% in the 4th quarter. Pura Vida Investments LLC now owns 6,282,823 shares of the biotechnology company’s stock valued at $15,016,000 after buying an additional 260,289 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in OncoCyte by 740.7% in the 1st quarter. Principal Financial Group Inc. now owns 126,387 shares of the biotechnology company’s stock valued at $656,000 after buying an additional 111,353 shares during the last quarter. Institutional investors own 60.77% of the company’s stock.
Shares of OCX traded up $0.20 during trading hours on Friday, reaching $5.42. 5,345 shares of the company’s stock traded hands, compared to its average volume of 1,040,524. The company has a market capitalization of $486.86 million, a PE ratio of -14.03 and a beta of 1.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.49 and a current ratio of 6.49. The firm’s 50 day simple moving average is $2.27. OncoCyte Co. has a 12 month low of $1.15 and a 12 month high of $6.57.
Several equities research analysts have recently issued reports on OCX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 target price on shares of OncoCyte in a research report on Wednesday, March 17th. Zacks Investment Research lowered OncoCyte from a “buy” rating to a “hold” rating in a report on Saturday, February 20th. Finally, Benchmark lifted their price objective on OncoCyte from $6.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, March 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $6.32.
In other news, CEO Ronald Asbury Andrews acquired 11,000 shares of the firm’s stock in a transaction that occurred on Friday, March 19th. The shares were bought at an average cost of $4.79 per share, with a total value of $52,690.00. Following the acquisition, the chief executive officer now owns 113,698 shares in the company, valued at approximately $544,613.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.06% of the company’s stock.
OncoCyte Corporation, a molecular diagnostics company, researches, 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.
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