OncoCyte Corporation [OCX] Revenue clocked in at $1.20 million, up 120.50% YTD: What’s Next?

OncoCyte Corporation [NASDAQ: OCX] gained 12.37% or 0.58 points to close at $5.27 with a heavy trading volume of 3618573 shares. The company report on March 17, 2021 that Oncocyte Provides Corporate Update and Reports Fourth Quarter and Annual 2020 Financial Results.

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It opened the trading session at $5.02, the shares rose to $5.74 and dropped to $4.9401, the range by which the price of stock traded the whole day. The daily chart for OCX points out that the company has recorded 265.97% gains over the past six months. However, it is still -358.26% lower than its most recent low trading price.

If we look at the average trading volume of 1.45M shares, OCX reached to a volume of 3618573 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 $7.71 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 1.80. 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.

Needham have made an estimate for OncoCyte Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 17, 2021. The new note on the price target was released on January 07, 2021, representing the official price target for OncoCyte Corporation stock. Previously, the target price had yet another raise from $2 to $4, while Piper Sandler kept a Overweight rating on OCX stock.

The Average True Range (ATR) for OncoCyte Corporation is set at 0.60, with the Price to Sales ratio for OCX stock in the period of the last 12 months amounting to 357.92. The Price to Book ratio for the last quarter was 10.13, with the Price to Cash per share for the same quarter was set at 0.13.

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 2.73. With this latest performance, OCX shares dropped by -14.86% in over the last four-week period, additionally plugging by 265.97% over the last 6 months – not to mention a rise of 173.06% 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 55.89, with the RSI for the last a single of trading hit 59.47, and the three-weeks RSI is set at 55.21 for OncoCyte Corporation [OCX]. The present Moving Average for the last 50 days of trading for this stock 4.95, while it was recorded at 4.84 for the last single week of trading, and 2.58 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and OncoCyte Corporation [OCX] shares currently have an operating margin of -2773.11 and a Gross Margin at -52.55. OncoCyte Corporation’s Net Margin is presently recorded at -2461.51.

Return on Total Capital for OCX is now -85.49, given the latest momentum, and Return on Invested Capital for the company is -80.12. Return on Equity for this stock declined to -93.07, with Return on Assets sitting at -62.83. When it comes to the capital structure of this company, OncoCyte Corporation [OCX] has a Total Debt to Total Equity ratio set at 25.78. Additionally, OCX Total Debt to Total Capital is recorded at 20.50, with Total Debt to Total Assets ending up at 15.58. Long-Term Debt to Equity for the company is recorded at 17.38, with the Long-Term Debt to Total Capital now at 13.82.

Receivables Turnover for the company is 11.98 with a Total Asset Turnover recorded at a value of 0.03.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 -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -18.20%. 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 $173 million, or 40.40% 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 0.80% of the total institutional ownership; PURA VIDA INVESTMENTS, LLC, holding 6,282,823 shares of the stock with an approximate value of $33.11 million in OCX stocks shares; and BLACKROCK INC., currently with $18.46 million in OCX stock with ownership of nearly 6.335% of the company’s market capitalization.

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Positions in OncoCyte Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 42 institutional holders increased their position in OncoCyte Corporation [NASDAQ:OCX] by around 2,741,746 shares. Additionally, 20 investors decreased positions by around 1,198,485 shares, while 10 investors held positions by with 28,891,211 shares. The mentioned changes placed institutional holdings at 32,831,442 shares, according to the latest SEC report filing. OCX stock had 14 new institutional investments in for a total of 433,237 shares, while 12 institutional investors sold positions of 1,059,718 shares during the same period.

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