Insider Buying: Oncocyte (NASDAQ:IMDX) Major Shareholder Acquires 521,739 Shares of Stock

Oncocyte Corp (NASDAQ:IMDX) major shareholder Broadwood Partners, L.P. acquired 521,739 shares of the business’s stock in a transaction on 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 transaction, the insider owned 11,931,839 shares of the company’s stock, valued at approximately $68,608,074.25. The trade was a 4.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Oncocyte Trading Down 2.6%

Shares of NASDAQ:IMDX traded down $0.15 during mid-day trading on Thursday, reaching $5.58. The company had a trading volume of 124,714 shares, compared to its average volume of 47,703. The company has a 50-day simple moving average of $6.38. Oncocyte Corp has a one year low of $2.21 and a one year high of $8.51.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on IMDX shares. 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 analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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.