Lake Street Capital Begins Coverage on OncoCyte (NASDAQ:OCX)

On March 29th, 2025, analysts at Lake Street Capital initiated coverage on OncoCyte (NASDAQ:OCX) through a research report. They assigned a buy rating to the stock with a price target set at $5.00.

Other analysts have recently shared their views on OncoCyte as well. Needham & Company LLC reaffirmed a buy rating for the stock, providing a price target of $4.25. Stephens, on the other hand, issued an 'equal weight' rating and set a target price at $4.00. StockNews.com has also recently started covering OncoCyte with a sell rating. In total, one analyst has given a sell rating, one has issued a hold rating, and three have provided a buy rating. The average analyst rating for the stock stands at 'Hold' with a target price averaging $4.56 according to MarketBeat.com.

OncoCyte Stock Performance

The stock opened at $3.21 on the day coverage was initiated. Over the past year, OncoCyte has seen a low of $1.92 and a high of $4.75. The company's market capitalization is approximately $56.02 million, with a P/E ratio of -0.73 and a beta of 0.79. The 50-day moving average price is around $2.79, while the 200-day moving average price is $2.73.

OncoCyte recently announced its quarterly earnings results on March 24th, revealing earnings per share (EPS) of $0.48, significantly better than analysts' consensus estimate of -$0.40, outperforming expectations by $0.88. The reported revenue for the quarter was $1.49 million, far exceeding the anticipated figure of $0.16 million. However, the company also posted a negative return on equity of 269.32% and a negative net margin of 6,122.29%. Analysts project OncoCyte will show an EPS of -2.57 for the current fiscal year.

Insider Transactions at OncoCyte

In recent insider news, Patrick W. Smith, a major shareholder of OncoCyte, purchased 1,077,600 shares of the company’s stock on February 7th. This stock was acquired at an average price of $2.05 per share, amounting to a total investment of $2,209,080. Following this purchase, Smith's ownership in the company rose to 2,872,671 shares, valued at about $5,888,975.55, marking a 60.03% increase in his stake. Additionally, CFO Andrea S. James bought 97,561 shares on the same day at the same average cost per share, totaling approximately $200,000.05, leading to a 181.78% increase in her holding to 151,231 shares worth $310,023.55. Legal filings related to these transactions are available for public viewing. In total, insiders bought 1,185,625 shares over the last ninety days, making up 1.58% of the company's total stock.

Institutional Investors' Stance on OncoCyte

Various institutional investors have also recently modified their positions in OncoCyte stock. For instance, Ground Swell Capital LLC established a new position worth around $26,000 in the fourth quarter. Similarly, Two Sigma Securities LLC acquired shares in the same quarter valued at $31,000. FNY Investment Advisers LLC increased its position by 15.1% during the fourth quarter, now holding 49,377 shares worth $117,000 after buying an additional 6,481 shares. Wealthedge Investment Advisors LLC also entered a new stake worth $126,000 during the fourth quarter. Finally, Geode Capital Management LLC raised its position by 12.2% in the third quarter, now owning 103,980 shares valued at $296,000 after acquiring an extra 11,289 shares. Overall, institutional investors and hedge funds control approximately 55.35% of OncoCyte's stock.

About OncoCyte

OncoCyte Corporation is a precision diagnostics company that focuses on developing and commercializing proprietary tests both in the United States and internationally. The company is working on innovative solutions like DetermaIO, a gene expression test that evaluates the tumor microenvironment to predict responses to immunotherapies, DetermaCNI, a blood-based tool for monitoring therapeutic efficacy for cancer patients, and VitaGraft, a blood test designed for solid organ transplantation monitoring.

OncoCyte, Stocks, Earnings