Oncocyte (NASDAQ:IMDX) Price Target Raised to $12.00

Oncocyte (NASDAQ:IMDX) had its price target hoisted by Lake Street Capital from $8.00 to $12.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on IMDX. Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a report on Monday, December 29th. Wall Street Zen upgraded Oncocyte to a “hold” rating in a research report on Saturday, November 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Oncocyte presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Oncocyte Stock Performance

NASDAQ IMDX opened at $5.43 on Tuesday. The business’s fifty day moving average is $6.41. The stock has a market cap of $155.62 million, a price-to-earnings ratio of -1.92 and a beta of 1.35. Oncocyte has a 52 week low of $2.32 and a 52 week high of $8.51.

Oncocyte (NASDAQ:IMDX) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.34) earnings per share (EPS) for the quarter. Oncocyte had a negative net margin of 1,380.69% and a negative return on equity of 983.30%. The firm had revenue of $0.26 million during the quarter.

Insider Buying and Selling

In other news, major shareholder Broadwood Partners, L.P. purchased 521,739 shares of the stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average cost of $5.75 per share, for a total transaction of $2,999,999.25. Following the completion of the transaction, the insider directly owned 11,931,839 shares in the company, valued at approximately $68,608,074.25. This represents a 4.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.05% of the stock is owned by company insiders.

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.