Brokerages Set OncoCyte Corp (NYSEAMERICAN:OCX) Target Price at $7.00

OncoCyte Corp (NYSEAMERICAN:OCX) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $7.00.

A number of analysts recently commented on OCX shares. Zacks Investment Research cut shares of OncoCyte from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Chardan Capital set a $8.00 target price on shares of OncoCyte and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Benchmark reiterated a “buy” rating on shares of OncoCyte in a research note on Wednesday, July 3rd.

Shares of OncoCyte stock traded down $0.18 on Wednesday, reaching $2.09. The stock had a trading volume of 352,700 shares, compared to its average volume of 713,222. OncoCyte has a 1 year low of $1.16 and a 1 year high of $6.92.

OncoCyte (NYSEAMERICAN:OCX) last issued its quarterly earnings data on Tuesday, May 14th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01.

In related news, major shareholder Biotime Inc sold 2,250,000 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $2.00, for a total value of $4,500,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Broadwood Partners, L.P. purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was bought at an average cost of $2.00 per share, with a total value of $2,000,000.00. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of OCX. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of OncoCyte during the first quarter worth $9,836,000. Virtu Financial LLC acquired a new position in shares of OncoCyte during the 1st quarter valued at about $114,000. Spark Investment Management LLC acquired a new position in shares of OncoCyte during the 1st quarter valued at about $159,000. Perkins Capital Management Inc. acquired a new position in shares of OncoCyte during the 1st quarter valued at about $99,000. Finally, Bank of New York Mellon Corp boosted its position in shares of OncoCyte by 299.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 77,719 shares of the biotechnology company’s stock valued at $194,000 after acquiring an additional 58,246 shares during the last quarter.

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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Analyst Recommendations for OncoCyte (NYSEAMERICAN:OCX)

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