OncoCyte Co. (NASDAQ:OCX) Stock Position Boosted by Broadwood Capital Inc.

Broadwood Capital Inc. lifted its stake in OncoCyte Co. (NASDAQ:OCX - Free Report) by 26.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,244,405 shares of the company's stock after buying an additional 1,315,339 shares during the quarter. OncoCyte makes up 1.2% of Broadwood Capital Inc.'s holdings, making the stock its 6th largest position. Broadwood Capital Inc. owned about 37.10% of OncoCyte worth $14,862,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Two Sigma Securities LLC purchased a new position in OncoCyte during the fourth quarter worth approximately $31,000. FNY Investment Advisers LLC lifted its position in shares of OncoCyte by 15.1% during the 4th quarter. FNY Investment Advisers LLC now owns 49,377 shares of the company's stock valued at $117,000 after buying an additional 6,481 shares in the last quarter. Geode Capital Management LLC grew its stake in OncoCyte by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 103,980 shares of the company's stock valued at $296,000 after acquiring an additional 11,289 shares during the period. Finally, Pura Vida Investments LLC increased its holdings in OncoCyte by 32.1% in the 4th quarter. Pura Vida Investments LLC now owns 654,451 shares of the company's stock worth $1,558,000 after acquiring an additional 159,106 shares in the last quarter. 55.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OCX shares. StockNews.com started coverage on shares of OncoCyte in a research note on Sunday, April 6th. They set a "sell" rating for the company. Needham & Company LLC reiterated a "buy" rating and set a $4.25 price target on shares of OncoCyte in a research report on Tuesday, April 8th. Stephens restated an "equal weight" rating and issued a $4.00 price objective on shares of OncoCyte in a report on Tuesday, March 25th. Finally, Lake Street Capital started coverage on shares of OncoCyte in a research report on Friday, March 28th. They issued a "buy" rating and a $5.00 target price for the company.

OncoCyte Stock Performance

OCX remained flat at $2.83 during mid-day trading on Thursday. The company had a trading volume of 22,752 shares, compared to its average volume of 57,109. The firm's fifty day moving average price is $3.18 and its two-hundred day moving average price is $2.71. OncoCyte Co. has a 1 year low of $1.92 and a 1 year high of $4.75. The company has a market cap of $80.94 million, a P/E ratio of -0.64 and a beta of 0.95.

OncoCyte (NASDAQ:OCX - Get Free Report) last released its earnings results on Monday, March 24th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.88. OncoCyte had a negative net margin of 6,122.29% and a negative return on equity of 269.32%. The company had revenue of $1.49 million for the quarter, compared to analyst estimates of $0.16 million. Sell-side analysts anticipate that OncoCyte Co. will post -2.57 EPS for the current year.

Insider Activity

In related news, major shareholder Patrick W. Smith purchased 1,077,600 shares of the company's stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $2.05 per share, for a total transaction of $2,209,080.00. Following the completion of the purchase, the insider now directly owns 2,872,671 shares of the company's stock, valued at approximately $5,888,975.55. This trade represents a 60.03 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrea S. James purchased 97,561 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were bought at an average price of $2.05 per share, for a total transaction of $200,000.05. Following the completion of the purchase, the chief financial officer now directly owns 151,231 shares in the company, valued at $310,023.55. This represents a 181.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.58% of the company's stock.

OncoCyte Company Profile

OncoCyte Corporation, a precision diagnostics company, focuses on development and commercialization of proprietary tests in the United States and internationally. The company is developing DetermaIO, a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies; DetermaCNI, a blood-based monitoring tool for monitoring therapeutic efficacy in cancer patients; and VitaGraft, a blood-based solid organ transplantation monitoring test.