Oncocyte (NASDAQ:IMDX) Major Shareholder Broadwood Partners, L.P. Acquires 280,381 Shares

Key Points

• Broadwood Partners bought 280,381 Oncocyte shares on April 23 at an average of $3.50, a $981,333.50 purchase that brought its stake to 12,395,081 shares (a 2.31% increase) valued at about $43.38 million.
• The firm has been accumulating recently — purchasing roughly 1.275 million shares across multiple trades (including a Feb. 10 buy of 521,739 shares) for about $5.69 million in total.
• Oncocyte shares traded up 2.1% to $3.84 on above-average volume; the company is loss-making (Q1 EPS -$0.27), has a market cap of ~$123.5M, and carries mixed analyst ratings with a consensus "Hold" and an average price target of $12.00.

Oncocyte Corp (NASDAQ:IMDX - Get Free Report) major shareholder Broadwood Partners, L.P. bought 280,381 shares of the stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $3.50 per share, for a total transaction of $981,333.50. Following the acquisition, the insider owned 12,395,081 shares in the company, valued at $43,382,783.50. The trade was a 2.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 27th, Broadwood Partners, L.P. purchased 250,923 shares of Oncocyte stock. The stock was bought at an average cost of $3.64 per share, with a total value of $913,359.72.
• On Friday, April 24th, Broadwood Partners, L.P. acquired 38,880 shares of Oncocyte stock. The stock was bought at an average price of $3.53 per share, for a total transaction of $137,246.40.
• On Monday, April 20th, Broadwood Partners, L.P. acquired 40,690 shares of Oncocyte stock. The shares were bought at an average cost of $3.88 per share, for a total transaction of $157,877.20.
• On Friday, April 17th, Broadwood Partners, L.P. acquired 40,114 shares of Oncocyte stock. The shares were bought 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. acquired 102,057 shares of Oncocyte stock. The shares were bought at an average price 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 purchased at an average price of $5.75 per share, for a total transaction of $2,999,999.25.

Oncocyte Stock Up 2.1%

Shares of Oncocyte stock traded up $0.08 during mid-day trading on Monday, hitting $3.84. 454,644 shares of the stock were exchanged, compared to its average volume of 175,570. The company has a market cap of $123.53 million, a PE ratio of -2.37 and a beta of 1.52. Oncocyte Corp has a twelve month low of $2.33 and a twelve month high of $8.51. The stock has a 50-day moving average of $4.38.

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 firm had revenue of $1.14 million for the quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Lake Street Capital increased their price target on Oncocyte from $8.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Oncocyte in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded Oncocyte from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, Oncocyte presently has a consensus rating of "Hold" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.