Oncocyte (NASDAQ:IMDX – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.28) EPS for the quarter, FiscalAI reports. The firm had revenue of $0.03 million for the quarter.
Oncocyte Trading Up 2.4%
NASDAQ:IMDX opened at $5.10 on Thursday. The firm’s fifty day moving average is $4.17. Oncocyte has a one year low of $2.33 and a one year high of $8.51. The firm has a market cap of $164.68 million, a PE ratio of -3.15 and a beta of 1.63.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on IMDX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncocyte in a research note on Friday, March 27th. Lake Street Capital raised their target price on shares of Oncocyte from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Finally, Wall Street Zen cut Oncocyte from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Oncocyte has an average rating of “Hold” and an average price target of $12.00.
Insider Buying and Selling
In related news, major shareholder Broadwood Partners, L.P. bought 250,923 shares of Oncocyte stock in a transaction dated Monday, April 27th. The shares were bought at an average cost of $3.64 per share, for a total transaction of $913,359.72. Following the completion of the transaction, the insider owned 12,684,884 shares of the company’s stock, valued at approximately $46,172,977.76. This trade represents a 2.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have bought 753,045 shares of company stock worth $2,685,120. 2.05% of the stock is owned by corporate insiders.
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.
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