Oncocyte (NASDAQ:IMDX) Major Shareholder Acquires $143,206.98 in Stock

Key Points

• Broadwood Partners bought 40,114 shares of Oncocyte on April 17 at $3.57 (a $143,206.98 purchase), bringing its direct stake to 12,074,010 shares valued at about $43.1 million and adding to other recent purchases including a Feb. 10 buy of 521,739 shares for ~$3.0 million.
• Oncocyte shares traded up 3.9% to $3.99 during midday trading; the company has a market capitalization of $128.36 million, a 12‑month range of $2.33–$8.51, and a negative P/E of -2.46.
• Analyst views are mixed: Lake Street upgraded to a $12 price target and a "buy" rating, while other firms have cut to "sell," leaving a MarketBeat consensus rating of Hold with a $12.00 consensus target.

Oncocyte Corp (NASDAQ:IMDX - Get Free Report) major shareholder Broadwood Partners, L.P. purchased 40,114 shares of Oncocyte stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average price of $3.57 per share, for a total transaction of $143,206.98. Following the transaction, the insider directly owned 12,074,010 shares of the company's stock, valued at $43,104,215.70. This trade represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Monday, April 20th, Broadwood Partners, L.P. purchased 40,690 shares of Oncocyte stock. The shares were bought at an average price of $3.88 per share, for a total transaction of $157,877.20.
• On Thursday, April 16th, Broadwood Partners, L.P. purchased 102,057 shares of Oncocyte stock. The shares were bought 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 bought at an average price of $5.75 per share, for a total transaction of $2,999,999.25.

Oncocyte Trading Up 3.9%

Shares of NASDAQ IMDX traded up $0.15 during midday trading on Monday, hitting $3.99. 199,997 shares of the company traded hands, compared to its average volume of 376,839. Oncocyte Corp has a 12-month low of $2.33 and a 12-month high of $8.51. The firm has a 50-day moving average of $4.63. The company has a market capitalization of $128.36 million, a price-to-earnings ratio of -2.46 and a beta of 1.52.

Oncocyte (NASDAQ:IMDX - Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($0.27) earnings per share (EPS) for the quarter. The company had revenue of $1.14 million for the quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on IMDX. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncocyte in a research report on Friday, March 27th. Lake Street Capital boosted their price target on shares of Oncocyte from $8.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, February 17th. Finally, Wall Street Zen cut shares of Oncocyte from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Oncocyte has a consensus rating of "Hold" and a consensus target price 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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