Oncocyte (NASDAQ:IMDX) Major Shareholder Broadwood Partners, L.P. Purchases 38,880 Shares

Key Points

• Broadwood Partners, L.P. bought 38,880 shares of Oncocyte on April 24 at an average price of $3.53 and now holds about 12,433,961 shares (a 0.31% increase), following multiple other purchases in April and a 521,739‑share buy on Feb. 10.
• Oncocyte shares traded up ~2.1% to $3.84 on the latest session with above‑average volume; the company has a market cap of about $123.5 million and reported a loss of ($0.27) EPS and $1.14 million in revenue for the most recent quarter.
• Analyst views are mixed: MarketBeat shows a consensus rating of Hold with an average price target of $12.00, while Lake Street Capital upgraded to a Buy ($12 PT) and other firms have issued Sell ratings.

Oncocyte Corp (NASDAQ:IMDX - Get Free Report) major shareholder Broadwood Partners, L.P. bought 38,880 shares of Oncocyte stock in a transaction that occurred on Friday, April 24th. The stock was bought at an average price of $3.53 per share, with a total value of $137,246.40. Following the completion of the acquisition, the insider owned 12,433,961 shares in the company, valued at approximately $43,891,882.33. The trade was a 0.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 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 Monday, April 27th, Broadwood Partners, L.P. purchased 250,923 shares of Oncocyte stock. The shares were bought at an average price of $3.64 per share, for a total transaction of $913,359.72.
• On Thursday, April 23rd, Broadwood Partners, L.P. purchased 280,381 shares of Oncocyte stock. The stock was purchased at an average cost of $3.50 per share, for a total transaction of $981,333.50.
• On Monday, April 20th, Broadwood Partners, L.P. acquired 40,690 shares of Oncocyte stock. The stock was 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. acquired 40,114 shares of Oncocyte stock. The shares were purchased at an average cost of $3.57 per share, with a total value of $143,206.98.
• On Thursday, April 16th, Broadwood Partners, L.P. acquired 102,057 shares of Oncocyte stock. The shares were purchased at an average cost 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 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 market capitalization of $123.53 million, a price-to-earnings ratio of -2.37 and a beta of 1.52. Oncocyte Corp has a 12 month low of $2.33 and a 12 month high of $8.51. The company has a 50 day simple moving average of $4.38.

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

Analyst Ratings Changes

Several analysts recently weighed in on IMDX shares. Weiss Ratings restated a "sell (d-)" rating on shares of Oncocyte in a research note on Friday, March 27th. Lake Street Capital upped their price target on 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 research report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $12.00.

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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