Oncocyte (NASDAQ:IMDX) Shares Down 3.4% – Should You Sell?

Oncocyte Corp (NASDAQ:IMDX)’s stock price traded down 3.4% during mid-day trading on Thursday . The company traded as low as $6.55 and last traded at $6.62. 41,627 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 39,722 shares. The stock had previously closed at $6.85.

Analysts Set New Price Targets

Several brokerages have weighed in on IMDX. Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a report on Monday, December 29th. Wall Street Zen upgraded Oncocyte to a “hold” rating in a research note on Saturday, November 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Oncocyte Price Performance

The firm has a market cap of $189.73 million, a P/E ratio of -2.34 and a beta of 1.11.

Oncocyte (NASDAQ:IMDX) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.34) earnings per share (EPS) for the quarter. Oncocyte had a negative return on equity of 983.30% and a negative net margin of 1,380.69%.The business had revenue of $0.26 million for the quarter.

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.