Oncocyte (NASDAQ:IMDX) Stock Price Down 1.5% – Should You Sell?

Oncocyte Corp (NASDAQ:IMDX) was down 1.5% during trading on Wednesday . The stock traded as low as $5.70 and last traded at $5.76. Approximately 196,868 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 337,633 shares. The stock had previously closed at $5.85.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Lake Street Capital boosted their price target on Oncocyte from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded Oncocyte from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Oncocyte in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Oncocyte Trading Down 1.5%

The stock has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $5.45. The firm has a market capitalization of $185.99 million, a P/E ratio of -3.89 and a beta of 1.79.

Oncocyte (NASDAQ:IMDX) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.28) earnings per share (EPS) for the quarter. The business had revenue of $0.03 million during the quarter.

Insider Activity

In related news, major shareholder Broadwood Partners, L.P. acquired 280,381 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $3.50 per share, for a total transaction of $981,333.50. Following the purchase, the insider owned 12,395,081 shares in the company, valued at $43,382,783.50. The trade was a 2.31% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 753,045 shares of company stock worth $2,685,120. Insiders own 2.05% of the company’s stock.

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.