OncoCyte Corporation [OCX] is 144.77% higher this YTD. Is it still time to buy?

OncoCyte Corporation [AMEX: OCX] gained 22.90% or 1.09 points to close at $5.85 with a heavy trading volume of 4335606 shares. The company report on January 21, 2021 that Oncocyte Announces $25 Million Registered Offering.

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Offering Led by Current Shareholder and Healthcare Investor, Pura Vida Investments, Substantially Increasing Its Holdings.

Further Strengthens Balance Sheet to Support Ongoing Commercial and Development Activities across Cancer Care Continuum.

It opened the trading session at $5.47, the shares rose to $6.13 and dropped to $5.26, the range by which the price of stock traded the whole day. The daily chart for OCX points out that the company has recorded 353.49% gains over the past six months. However, it is still -408.7% lower than its most recent low trading price.

If we look at the average trading volume of 1.95M shares, OCX reached to a volume of 4335606 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about OncoCyte Corporation [OCX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OCX shares is $4.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OCX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for OncoCyte Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 07, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $2 to $4. The new note on the price target was released on December 16, 2020, representing the official price target for OncoCyte Corporation stock. Previously, the target price had yet another raise to $5, while BTIG Research analysts kept a Buy rating on OCX stock.

The Average True Range (ATR) for OncoCyte Corporation is set at 0.44, with the Price to Sales ratio for OCX stock in the period of the last 12 months amounting to 553.74. The Price to Book ratio for the last quarter was 11.25, with the Price to Cash per share for the same quarter was set at 0.16.

Trading performance analysis for OCX stock

OncoCyte Corporation [OCX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 71.05. With this latest performance, OCX shares gained by 129.41% in over the last four-week period, additionally plugging by 353.49% over the last 6 months – not to mention a rise of 109.68% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OCX stock in for the last two-week period is set at 91.60, with the RSI for the last a single of trading hit 94.53, and the three-weeks RSI is set at 88.74 for OncoCyte Corporation [OCX]. The present Moving Average for the last 50 days of trading for this stock 2.52, while it was recorded at 4.59 for the last single week of trading, and 2.06 for the last 200 days.

OncoCyte Corporation [OCX]: A deeper dive into fundamental analysis

Return on Total Capital for OCX is now -106.11, given the latest momentum, and Return on Invested Capital for the company is -113.91. Return on Equity for this stock declined to -130.91, with Return on Assets sitting at -90.84. When it comes to the capital structure of this company, OncoCyte Corporation [OCX] has a Total Debt to Total Equity ratio set at 19.25. Additionally, OCX Total Debt to Total Capital is recorded at 16.14, with Total Debt to Total Assets ending up at 14.89. Long-Term Debt to Equity for the company is recorded at 14.86, with the Long-Term Debt to Total Capital now at 12.46.

Reflecting on the efficiency of the workforce at the company, OncoCyte Corporation [OCX] managed to generate an average of -$679,576 per employee.OncoCyte Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

OncoCyte Corporation [OCX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, OncoCyte Corporation posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -55.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OCX.

An analysis of insider ownership at OncoCyte Corporation [OCX]

There are presently around $184 million, or 46.30% of OCX stock, in the hands of institutional investors. The top three institutional holders of OCX stocks are: BROADWOOD CAPITAL INC with ownership of 14,716,204, which is approximately 0% of the company’s market cap and around 1.20% of the total institutional ownership; PURA VIDA INVESTMENTS, LLC, holding 6,022,534 shares of the stock with an approximate value of $35.23 million in OCX stocks shares; and BLACKROCK INC., currently with $19.27 million in OCX stock with ownership of nearly 26.736% of the company’s market capitalization.

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Positions in OncoCyte Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 38 institutional holders increased their position in OncoCyte Corporation [AMEX:OCX] by around 2,276,497 shares. Additionally, 28 investors decreased positions by around 3,849,152 shares, while 9 investors held positions by with 25,317,002 shares. The mentioned changes placed institutional holdings at 31,442,651 shares, according to the latest SEC report filing. OCX stock had 11 new institutional investments in for a total of 492,616 shares, while 14 institutional investors sold positions of 3,644,234 shares during the same period.

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