OncoCyte (OCX) Rating Lowered to Hold at Zacks Investment Research

OncoCyte (NYSEAMERICAN:OCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “OncoCyte Corporation is primarily focused on the development of novel, non-invasive blood and urine diagnostic tests for detection of cancer. OncoCyte Corporation is based in Alameda, California. “

OCX has been the subject of a number of other research reports. Janney Montgomery Scott raised OncoCyte from a “neutral” rating to a “buy” rating in a report on Tuesday, January 29th. Lake Street Capital restated a “buy” rating on shares of OncoCyte in a research note on Wednesday, December 19th. Piper Jaffray Companies initiated coverage on OncoCyte in a research note on Wednesday, February 13th. They issued an “overweight” rating and a $6.00 price target on the stock. Finally, Chardan Capital restated a “buy” rating and issued a $8.00 price target on shares of OncoCyte in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $6.00.

OncoCyte stock opened at $4.15 on Wednesday. OncoCyte has a 12 month low of $1.16 and a 12 month high of $6.92.

OncoCyte (NYSEAMERICAN:OCX) last posted its earnings results on Monday, April 1st. The biotechnology company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02).

In related news, major shareholder Broadwood Partners, L.P. bought 533,333 shares of the stock in a transaction that occurred on Friday, February 8th. The shares were bought at an average cost of $3.75 per share, for a total transaction of $1,999,998.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

An institutional investor recently raised its position in OncoCyte stock. Vanguard Group Inc grew its holdings in OncoCyte Corp (NYSEAMERICAN:OCX) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 410,275 shares of the biotechnology company’s stock after acquiring an additional 15,115 shares during the period. Vanguard Group Inc owned about 1.01% of OncoCyte worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

OncoCyte Company Profile

OncoCyte Corp. is a pharmaceutical company. It is focused on the discovery, development and commercialization of novel, non-invasive, liquid biopsy diagnostics for the early detection of cancer. The company was founded in September 2009 and is headquartered in Alameda, CA.

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