Broadwood Partners, L.P. Acquires 40,114 Shares of Oncocyte (NASDAQ:IMDX) Stock

Oncocyte Corp (NASDAQ:IMDX) major shareholder Broadwood Partners, L.P. bought 40,114 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was acquired at an average cost of $3.57 per share, with a total value of $143,206.98. Following the transaction, the insider owned 12,074,010 shares in the company, valued at $43,104,215.70. The trade was a 0.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Broadwood Partners, L.P. also recently made the following trade(s):

• On Monday, April 20th, Broadwood Partners, L.P. bought 40,690 shares of Oncocyte stock. The stock was acquired at an average cost of $3.88 per share, with a total value of $157,877.20.
• On Thursday, April 16th, Broadwood Partners, L.P. bought 102,057 shares of Oncocyte stock. The stock was acquired at an average cost of $3.45 per share, with a total value of $352,096.65.
• On Tuesday, February 10th, Broadwood Partners, L.P. bought 521,739 shares of Oncocyte stock. The stock was acquired at an average cost of $5.75 per share, with a total value of $2,999,999.25.

Oncocyte Trading Down 10.3%

Shares of NASDAQ:IMDX opened at $3.58 on Wednesday. Oncocyte Corp has a fifty-two week low of $2.33 and a fifty-two week high of $8.51. The stock has a 50-day simple moving average of $4.49. The stock has a market cap of $115.17 million, a price-to-earnings ratio of -2.21 and a beta of 1.52.

Oncocyte (NASDAQ:IMDX) last issued its earnings results on Thursday, March 26th. The company reported ($0.27) earnings per share for the quarter. The business had revenue of $1.14 million during the quarter.

Analysts Set New Price Targets

A number of brokerages have weighed in on IMDX. Lake Street Capital boosted their target price on Oncocyte from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncocyte in a research report on Friday, March 27th. Finally, Wall Street Zen lowered Oncocyte from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Oncocyte has an average rating of “Hold” and an average price target of $12.00.

Oncocyte Company Profile

Oncocyte (NASDAQ:IMDX) is a molecular diagnostics company that develops and commercializes tests intended to improve cancer detection, risk stratification and treatment decision-making. The company focuses on creating assays that provide clinically actionable information to physicians managing patients with suspected or confirmed malignancies, with particular emphasis on tools that can help evaluate lung nodules and other oncology-related diagnostic challenges.

Oncocyte’s product and development efforts center on blood- and tissue-based molecular assays that analyze biomarkers and genomic signals to inform clinical workflows.