Stephens Reiterates Equal Weight Rating for OncoCyte (NASDAQ:OCX)

Stephens reaffirmed their equal weight rating on shares of OncoCyte (NASDAQ:OCX) in a research note released on Wednesday morning, Benzinga reports. Stephens currently has a $4.00 target price on the stock.

OCX has been the topic of several other reports. StockNews.com started coverage on shares of OncoCyte in a research note on Friday, April 12th. They issued a sell rating on the stock. Benchmark reaffirmed a speculative buy rating and set a $5.00 target price on shares of OncoCyte in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $3.90.

OncoCyte Price Performance

NASDAQ:OCX opened at $2.50 on Wednesday. The company’s 50-day moving average price is $2.93 and its 200-day moving average price is $3.05. OncoCyte has a twelve month low of $2.08 and a twelve month high of $6.20.

Insiders Place Their Bets

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

Institutional Investors Weigh In On OncoCyte

A number of institutional investors and hedge funds have recently made changes to their positions in OCX. Cubist Systematic Strategies LLC acquired a new position in shares of OncoCyte in the second quarter valued at approximately $25,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of OncoCyte in the first quarter valued at approximately $25,000. Renaissance Technologies LLC grew its holdings in shares of OncoCyte by 131.7% in the second quarter. Renaissance Technologies LLC now owns 138,100 shares of the company’s stock valued at $32,000 after purchasing an additional 78,500 shares in the last quarter. DCF Advisers LLC grew its holdings in shares of OncoCyte by 107.0% in the first quarter. DCF Advisers LLC now owns 25,149 shares of the company’s stock valued at $37,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Balyasny Asset Management LLC grew its holdings in shares of OncoCyte by 389.9% in the third quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock valued at $39,000 after purchasing an additional 42,091 shares in the last quarter. 55.35% of the stock is owned by hedge funds and other institutional investors.

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.