OncoCyte Corp (NYSEAMERICAN:OCX) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 943,200 shares, a growth of 24.1% from the May 30th total of 760,200 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 348,400 shares, the short-interest ratio is currently 2.7 days.
In other OncoCyte news, major shareholder Broadwood Partners, L.P. bought 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were bought at an average price of $2.00 per share, for a total transaction of $2,000,000.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Biotime Inc sold 2,250,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $2.00, for a total value of $4,500,000.00. The disclosure for this sale can be found here.
Large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of OncoCyte during the first quarter valued at approximately $114,000. Perkins Capital Management Inc. bought a new position in shares of OncoCyte in the 1st quarter worth $99,000. Emerald Mutual Fund Advisers Trust acquired a new stake in OncoCyte in the 1st quarter valued at $9,836,000. Finally, Spark Investment Management LLC acquired a new stake in OncoCyte in the 1st quarter valued at $159,000.
OncoCyte (NYSEAMERICAN:OCX) last issued its earnings results on Tuesday, May 14th. The biotechnology company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01.
Several brokerages have issued reports on OCX. Benchmark reissued a “buy” rating on shares of OncoCyte in a research note on Wednesday, July 3rd. Chardan Capital set a $8.00 price objective on shares of OncoCyte and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $6.00.
OncoCyte Corporation focuses on the development and commercialization of novel and non-invasive blood and urine (liquid biopsy) diagnostic tests for the early detection of cancer. The company is developing diagnostic tests using genetic and protein markers expressed in various types of cancer. It develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancer.
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