Oncocyte (NASDAQ:IMDX) Trading 9.4% Higher – Time to Buy?

Shares of Oncocyte Corp (NASDAQ:IMDX) were up 9.4% during mid-day trading on Friday . The company traded as high as $7.48 and last traded at $7.32. Approximately 61,495 shares traded hands during trading, an increase of 113% from the average daily volume of 28,887 shares. The stock had previously closed at $6.69.

Analysts Set New Price Targets

A number of analysts have recently commented on IMDX shares. Wall Street Zen upgraded Oncocyte to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Oncocyte in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Oncocyte Price Performance

The stock has a fifty day moving average price of $6.30. The stock has a market cap of $209.79 million, a P/E ratio of -2.59 and a beta of 1.35.

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

Oncocyte Company Profile

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.