OncoCyte Corp (NYSEAMERICAN:OCX) Receives Average Rating of “Buy” from Analysts
Shares of OncoCyte Corp (NYSEAMERICAN:OCX) have been assigned a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $4.38.
A number of equities research analysts have recently weighed in on OCX shares. Chardan Capital lowered OncoCyte from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.75 to $2.00 in a research note on Tuesday. Piper Sandler boosted their price target on OncoCyte from $5.40 to $7.50 and gave the company an “overweight” rating in a report on Thursday, June 25th. Needham & Company LLC reissued a “buy” rating and issued a $4.00 price target on shares of OncoCyte in a report on Wednesday, June 17th. Lake Street Capital decreased their price target on OncoCyte from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Zacks Investment Research cut OncoCyte from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th.
In other news, major shareholder Broadwood Partners, L.P. bought 1,050,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were purchased at an average price of $2.24 per share, with a total value of $2,352,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
OCX traded down $1.44 during trading on Tuesday, reaching $1.79. The company had a trading volume of 4,594,089 shares, compared to its average volume of 364,631. OncoCyte has a 52 week low of $1.50 and a 52 week high of $3.51.
OncoCyte (NYSEAMERICAN:OCX) last released its earnings results on Tuesday, May 12th. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $0.02 million during the quarter.
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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