OncoCyte (NYSEAMERICAN:OCX) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of OncoCyte (NYSEAMERICAN:OCX) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “OncoCyte Corporation is primarily focused on the development of novel, non-invasive blood and urine diagnostic tests for detection of cancer. OncoCyte Corporation is based in Alameda, California. “

Separately, Needham & Company LLC reissued a buy rating and issued a $8.00 target price on shares of OncoCyte in a research report on Wednesday, June 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, OncoCyte presently has a consensus rating of Buy and a consensus target price of $6.71.

OCX stock opened at $3.40 on Wednesday. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $311.38 million, a price-to-earnings ratio of -9.44 and a beta of 1.85. OncoCyte has a 12 month low of $1.41 and a 12 month high of $6.57.

OncoCyte (NYSEAMERICAN:OCX) last posted its earnings results on Monday, August 9th. The biotechnology company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The business had revenue of $2.03 million during the quarter, compared to the consensus estimate of $1.65 million. OncoCyte had a negative return on equity of 36.24% and a negative net margin of 652.99%. On average, equities research analysts predict that OncoCyte will post -0.29 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Zuckerman Investment Group LLC acquired a new position in OncoCyte during the 1st quarter valued at $53,000. SG Americas Securities LLC acquired a new position in OncoCyte during the 1st quarter valued at $62,000. Amalgamated Bank acquired a new position in OncoCyte during the 2nd quarter valued at $72,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in OncoCyte during the 2nd quarter valued at $76,000. Finally, Jump Financial LLC acquired a new position in OncoCyte during the 2nd quarter valued at $97,000. Institutional investors and hedge funds own 61.75% of the company’s stock.

About OncoCyte

OncoCyte Corp. is a molecular diagnostics company, which engages in the development and commercialization of diagnostic tests for the detection of cancer, including molecular diagnostic services to pharmaceutical customers. Its products include DetermaRx and DetermaIO. The firm also offers pharmaceutical services like multi-analyte test development and clinical trial services.

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