Chardan Capital cut shares of OncoCyte (NYSEAMERICAN:OCX) from a buy rating to a neutral rating in a research report report published on Tuesday, BenzingaRatingsTable reports. The brokerage currently has $2.00 price target on the biotechnology company’s stock, down from their prior price target of $7.75.
Other research analysts have also recently issued research reports about the stock. Piper Sandler raised their target price on shares of OncoCyte from $5.40 to $7.50 and gave the stock an overweight rating in a report on Thursday, June 25th. Zacks Investment Research downgraded OncoCyte from a hold rating to a sell rating in a report on Tuesday, June 16th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $4.00 price objective on shares of OncoCyte in a research note on Wednesday, June 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. OncoCyte currently has an average rating of Hold and a consensus target price of $4.05.
OCX opened at $1.91 on Tuesday. OncoCyte has a 52-week low of $1.50 and a 52-week high of $3.51.
In other OncoCyte news, major shareholder Broadwood Partners, L.P. bought 1,050,000 shares of OncoCyte stock in a transaction dated Friday, April 24th. The stock was acquired at an average cost of $2.24 per share, with a total value of $2,352,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
A number of hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in OncoCyte in the 1st quarter valued at $26,000. Two Sigma Investments LP purchased a new stake in shares of OncoCyte during the first quarter worth $32,000. Perkins Capital Management Inc. purchased a new stake in shares of OncoCyte during the first quarter worth $53,000. Oxford Asset Management LLP acquired a new stake in shares of OncoCyte in the fourth quarter valued at about $64,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of OncoCyte by 31.9% in the first quarter. JPMorgan Chase & Co. now owns 36,905 shares of the biotechnology company’s stock worth $91,000 after buying an additional 8,933 shares in the last 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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