OncoCyte (NYSEAMERICAN:OCX) was downgraded by investment analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, The Fly reports. Piper Sandler also issued estimates for OncoCyte’s Q2 2020 earnings at ($0.11) EPS, Q3 2020 earnings at ($0.11) EPS, Q4 2020 earnings at ($0.12) EPS, FY2020 earnings at ($0.47) EPS, Q1 2021 earnings at ($0.12) EPS, Q2 2021 earnings at ($0.12) EPS, Q3 2021 earnings at ($0.12) EPS, Q4 2021 earnings at ($0.05) EPS, FY2021 earnings at ($0.41) EPS, FY2022 earnings at $0.01 EPS and FY2023 earnings at $0.10 EPS.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered OncoCyte from a “hold” rating to a “sell” rating in a research report on Tuesday, June 16th. Chardan Capital downgraded OncoCyte from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $7.75 to $2.00 in a report on Tuesday. Lake Street Capital decreased their price objective on OncoCyte from $6.00 to $4.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $4.00 price objective on shares of OncoCyte in a report on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.05.
NYSEAMERICAN:OCX opened at $1.91 on Tuesday. OncoCyte has a 1-year low of $1.50 and a 1-year high of $3.51.
OncoCyte (NYSEAMERICAN:OCX) last released its quarterly earnings results on Tuesday, May 12th. The biotechnology company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). The firm had revenue of $0.02 million during the quarter.
In related news, major shareholder Broadwood Partners, L.P. purchased 1,050,000 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was purchased at an average cost of $2.24 per share, for a total transaction of $2,352,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds and other institutional investors have recently made changes to their positions in OCX. Phoenix Holdings Ltd. bought a new stake in shares of OncoCyte in the 1st quarter valued at about $628,000. Barclays PLC grew its holdings in shares of OncoCyte by 1,511.0% in the fourth quarter. Barclays PLC now owns 170,733 shares of the biotechnology company’s stock valued at $384,000 after acquiring an additional 160,135 shares in the last quarter. P.A.W. Capital Corp grew its holdings in shares of OncoCyte by 40.0% in the first quarter. P.A.W. Capital Corp now owns 350,000 shares of the biotechnology company’s stock valued at $858,000 after acquiring an additional 100,000 shares in the last quarter. Penbrook Management LLC grew its holdings in shares of OncoCyte by 21.9% in the first quarter. Penbrook Management LLC now owns 215,625 shares of the biotechnology company’s stock valued at $529,000 after acquiring an additional 38,747 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new position in OncoCyte during the fourth quarter valued at $64,000.
OncoCyte Company Profile
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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