OncoCyte (NASDAQ:OCX) Given Equal Weight Rating at Stephens

OncoCyte (NASDAQ:OCX)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Stephens in a report released on Wednesday, Benzinga reports. They currently have a $4.00 target price on the stock. Stephens’ price objective would indicate a potential upside of 54.44% from the stock’s current price.

Several other equities analysts have also recently commented on OCX. StockNews.com assumed coverage on shares of OncoCyte in a research report on Friday, April 12th. They issued a “sell” rating for the company. Benchmark restated a “speculative buy” rating and issued a $5.00 target price on shares of OncoCyte in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.90.

OncoCyte Stock Performance

NASDAQ OCX traded down $0.16 during trading on Wednesday, reaching $2.59. The company’s stock had a trading volume of 35,749 shares, compared to its average volume of 48,396. OncoCyte has a 12 month low of $2.08 and a 12 month high of $6.80. The firm has a 50 day moving average price of $2.96 and a 200 day moving average price of $3.06.

Insider Activity

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

Hedge Funds Weigh In On OncoCyte

Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC bought a new stake in shares of OncoCyte in the 2nd quarter valued at $25,000. Raymond James Financial Services Advisors Inc. bought a new position in OncoCyte during the first quarter worth $25,000. Renaissance Technologies LLC boosted its stake in 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 acquiring an additional 78,500 shares in the last quarter. DCF Advisers LLC boosted its stake in OncoCyte by 107.0% during the first quarter. DCF Advisers LLC now owns 25,149 shares of the company’s stock worth $37,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its stake in OncoCyte by 389.9% during the third quarter. Balyasny Asset Management LLC now owns 52,887 shares of the company’s stock worth $39,000 after acquiring an additional 42,091 shares in the last quarter. 55.35% of the stock is currently owned by institutional investors and hedge funds.

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.