Short Interest in OncoCyte Co. (OCX) Expands By 47.1%
OncoCyte Co. (NYSEAMERICAN:OCX) was the target of a large growth in short interest in December. As of December 29th, there was short interest totalling 477,222 shares, a growth of 47.1% from the December 15th total of 324,331 shares. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 43,784 shares, the short-interest ratio is presently 10.9 days.
A hedge fund recently raised its stake in OncoCyte stock. Broadwood Capital Inc. boosted its holdings in OncoCyte Co. (NYSEAMERICAN:OCX) by 17.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,596,680 shares of the biotechnology company’s stock after buying an additional 540,000 shares during the period. OncoCyte accounts for approximately 4.5% of Broadwood Capital Inc.’s holdings, making the stock its 5th biggest position. Broadwood Capital Inc. owned about 11.48% of OncoCyte worth $27,155,000 at the end of the most recent quarter.
Shares of OncoCyte (NYSEAMERICAN:OCX) traded down $0.10 during mid-day trading on Wednesday, reaching $4.15. The company’s stock had a trading volume of 14,800 shares, compared to its average volume of 34,733. OncoCyte has a 1-year low of $3.60 and a 1-year high of $7.85. The stock has a market cap of $138.28 and a price-to-earnings ratio of -6.69.
OCX has been the subject of a number of analyst reports. Zacks Investment Research lowered OncoCyte from a “hold” rating to a “sell” rating in a research note on Saturday, November 18th. ValuEngine lowered OncoCyte from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th.
OncoCyte Company Profile
OncoCyte Corporation is a development-stage biotechnology company focused in the field of regenerative medicine. The Company is developing molecular cancer diagnostics utilizing a discovery platform that focuses on identifying genetic markers expressed in various types of cancer. It operates through the research and development of diagnostic tests for the detection of cancer segment.
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