Broadwood Partners, L.P. Buys 250,923 Shares of Oncocyte (NASDAQ:IMDX) Stock

Key Points

• Broadwood Partners, L.P. bought 250,923 shares of Oncocyte on April 27 at an average price of $3.64 (≈$913,360), raising its stake to 12,684,884 shares, and has made multiple recent purchases including a 521,739-share buy on Feb. 10 (~$3.0M).
• Oncocyte shares traded up 2.1% to $3.84 on heavy volume (454,644 vs. average 175,570); the company has a market cap of ~$123.5M and reported a quarterly loss of $0.27 EPS on $1.14M revenue.
• Analyst coverage is mixed (one Buy, one Sell), with a MarketBeat consensus rating of "Hold" and a consensus price target of $12.00.

Oncocyte Corp (NASDAQ:IMDX - Get Free Report) major shareholder Broadwood Partners, L.P. purchased 250,923 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $3.64 per share, for a total transaction of $913,359.72. Following the purchase, the insider owned 12,684,884 shares in the company, valued at $46,172,977.76. The trade was a 2.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Friday, April 24th, Broadwood Partners, L.P. acquired 38,880 shares of Oncocyte stock. The shares were bought at an average price of $3.53 per share, with a total value of $137,246.40.
• On Thursday, April 23rd, Broadwood Partners, L.P. acquired 280,381 shares of Oncocyte stock. The shares were purchased at an average price of $3.50 per share, with a total value of $981,333.50.
• On Monday, April 20th, Broadwood Partners, L.P. acquired 40,690 shares of Oncocyte stock. The shares were purchased at an average price of $3.88 per share, with a total value of $157,877.20.
• On Friday, April 17th, Broadwood Partners, L.P. bought 40,114 shares of Oncocyte stock. The stock was purchased at an average cost of $3.57 per share, for a total transaction of $143,206.98.
• On Thursday, April 16th, Broadwood Partners, L.P. bought 102,057 shares of Oncocyte stock. The shares were purchased at an average price of $3.45 per share, for a total transaction of $352,096.65.
• On Tuesday, February 10th, Broadwood Partners, L.P. purchased 521,739 shares of Oncocyte stock. The shares were purchased at an average cost of $5.75 per share, with a total value of $2,999,999.25.

Oncocyte Trading Up 2.1%

IMDX traded up $0.08 during trading on Monday, hitting $3.84. The stock had a trading volume of 454,644 shares, compared to its average volume of 175,570. The stock has a 50 day simple moving average of $4.38. Oncocyte Corp has a one year low of $2.33 and a one year high of $8.51. The company has a market capitalization of $123.53 million, a price-to-earnings ratio of -2.37 and a beta of 1.52.

Oncocyte (NASDAQ:IMDX - Get Free Report) last posted its quarterly earnings data 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.

Wall Street Analyst Weigh In

Several analysts have weighed in on IMDX shares. Weiss Ratings reiterated 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 downgraded shares of Oncocyte from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.00.

About Oncocyte

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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