OncoCyte (NYSEAMERICAN:OCX) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of OncoCyte (NYSEAMERICAN:OCX) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “OncoCyte Corporation is primarily focused on the development of novel, non-invasive blood and urine diagnostic tests for detection of cancer. OncoCyte Corporation is based in Alameda, California. “

Separately, Chardan Capital reissued a buy rating and issued a $7.75 price objective on shares of OncoCyte in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $6.10.

Shares of OCX traded up $0.11 during trading on Wednesday, reaching $2.99. 8,106 shares of the company traded hands, compared to its average volume of 614,328. OncoCyte has a twelve month low of $1.50 and a twelve month high of $6.92.

OncoCyte (NYSEAMERICAN:OCX) last announced its quarterly earnings results on Thursday, November 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01).

In other news, major shareholder Broadwood Partners, L.P. purchased 1,176,471 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average price of $1.70 per share, for a total transaction of $2,000,000.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new stake in OncoCyte during the second quarter worth approximately $38,000. Weiss Asset Management LP acquired a new stake in OncoCyte during the second quarter worth approximately $47,000. Algert Global LLC acquired a new stake in OncoCyte during the second quarter worth approximately $90,000. Wells Fargo & Company MN raised its holdings in OncoCyte by 77,522.4% during the second quarter. Wells Fargo & Company MN now owns 38,035 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 37,986 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in OncoCyte by 48.2% during the third quarter. Millennium Management LLC now owns 50,061 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 16,281 shares in the last quarter.

OncoCyte Company Profile

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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Analyst Recommendations for OncoCyte (NYSEAMERICAN:OCX)

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