Oncocyte (NASDAQ:IMDX) Stock Price Down 1.5% – What’s Next?

Oncocyte Corp (NASDAQ:IMDX) fell 1.5% on Wednesday . The company traded as low as $5.70 and last traded at $5.76. 196,868 shares changed hands during trading, a decline of 42% from the average session volume of 337,633 shares. The stock had previously closed at $5.85.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IMDX. Lake Street Capital increased their target price on Oncocyte from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded Oncocyte from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.00.

Oncocyte Stock Performance

The stock has a 50 day simple moving average of $4.82 and a 200 day simple moving average of $5.45.

Oncocyte (NASDAQ:IMDX) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.28) EPS for the quarter. The business had revenue of $0.03 million during the quarter.

Insider Buying and Selling

In other Oncocyte news, major shareholder Broadwood Partners, L.P. purchased 280,381 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were bought at an average price of $3.50 per share, for a total transaction of $981,333.50. Following the purchase, the insider owned 12,395,081 shares in the company, valued at approximately $43,382,783.50. This trade represents a 2.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 753,045 shares of company stock worth $2,685,120. 2.05% of the stock is owned by company insiders.

About Oncocyte

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.