Oncocyte (NASDAQ:IMDX) Cut to Sell at Wall Street Zen

Oncocyte (NASDAQ:IMDX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other analysts have also recently commented on the company. Lake Street Capital raised their price target on Oncocyte from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncocyte in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.00.

Oncocyte Stock Down 13.4%

NASDAQ IMDX opened at $3.56 on Friday. The stock has a market capitalization of $102.03 million, a PE ratio of -2.20 and a beta of 1.35. Oncocyte has a 52-week low of $2.33 and a 52-week high of $8.51. The business’s 50-day moving average price is $5.63.

Oncocyte (NASDAQ:IMDX) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($0.27) EPS for the quarter. Oncocyte had a negative net margin of 1,238.52% and a negative return on equity of 5,096.60%. The firm had revenue of $1.14 million during the quarter.

Insiders Place Their Bets

In other news, major shareholder Broadwood Partners, L.P. acquired 521,739 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average cost of $5.75 per share, with a total value of $2,999,999.25. Following the purchase, the insider directly owned 11,931,839 shares of the company’s stock, valued at approximately $68,608,074.25. This trade represents a 4.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 2.05% of the stock is owned by insiders.

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.