StockNews.com Initiates Coverage on OncoCyte (NASDAQ:OCX)

StockNews.com began coverage on shares of OncoCyte (NASDAQ:OCX) in a report issued on Friday. The brokerage issued a sell rating on the stock.

OncoCyte Price Performance

Shares of NASDAQ OCX opened at $2.53 on Friday. The business has a 50 day simple moving average of $2.96 and a 200 day simple moving average of $3.06. OncoCyte has a 52 week low of $2.08 and a 52 week high of $6.80.

Insider Activity at OncoCyte

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

Institutional Investors Weigh In On OncoCyte

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in shares of OncoCyte during the second quarter worth approximately $896,000. Geode Capital Management LLC lifted its holdings in shares of OncoCyte by 23.8% during the second quarter. Geode Capital Management LLC now owns 1,228,553 shares of the company’s stock worth $283,000 after buying an additional 236,099 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of OncoCyte by 2.3% during the first quarter. Vanguard Group Inc. now owns 3,986,270 shares of the company’s stock worth $5,940,000 after buying an additional 90,534 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of OncoCyte by 17.8% during the second quarter. Goldman Sachs Group Inc. now owns 541,983 shares of the company’s stock worth $487,000 after buying an additional 81,979 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of OncoCyte by 131.7% during the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock worth $32,000 after buying an additional 78,500 shares during the last quarter. 55.35% of the stock is currently owned by institutional investors and hedge funds.

OncoCyte Company Profile

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.