News

Fintel reports that on August 10, 2023, Needham maintained coverage of Oncocyte (NASDAQ:OCX) with a Buy recommendation.

Analyst Price Forecast Suggests 103.42% Upside

As of August 2, 2023, the average one-year price target for Oncocyte is 7.14. The forecasts range from a low of 4.04 to a high of $9.45. The average price target represents an increase of 103.42% from its latest reported closing price of 3.51.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Oncocyte is 12MM, an increase of 1,000.82%. The projected annual non-GAAP EPS is -0.36.

What is the Fund Sentiment?

There are 70 funds or institutions reporting positions in Oncocyte. This is a decrease of 10 owner(s) or 12.50% in the last quarter. Average portfolio weight of all funds dedicated to OCX is 0.02%, an increase of 14.57%. Total shares owned by institutions decreased in the last three months by 8.61% to 55,754K shares.

The put/call ratio of OCX is 0.00, indicating a bullish outlook.

What are Other Shareholders Doing?

Broadwood Capital holds 23,354K shares representing 283.38% ownership of the company. No change in the last quarter.

Pura Vida Investments holds 14,166K shares representing 171.90% ownership of the company. In it's prior filing, the firm reported owning 18,056K shares, representing a decrease of 27.46%. The firm increased its portfolio allocation in OCX by 69.94% over the last quarter.

AWM Investment holds 6,773K shares representing 82.19% ownership of the company. In it's prior filing, the firm reported owning 7,254K shares, representing a decrease of 7.10%. The firm decreased its portfolio allocation in OCX by 3.22% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,080K shares representing 37.37% ownership of the company. No change in the last quarter.

Defender Capital, LLC. holds 2,363K shares representing 28.68% ownership of the company. In it's prior filing, the firm reported owning 2,273K shares, representing an increase of 3.83%. The firm decreased its portfolio allocation in OCX by 0.73% over the last quarter.

Oncocyte Background Information
(This description is provided by the company.)

Oncocyte is a molecular diagnostics company whose mission is to provide actionable answers at critical decision points across the cancer care continuum. The Company, through its proprietary tests and pharmaceutical services business, aims to help save lives and improve outcomes by accelerating and optimizing the diagnosis and treatment of cancer. The Company's tests and services present multiple opportunities to advance cancer care while also driving revenue growth for the Company. Oncocyte has launched DetermaRx™, a test that identifies early-stage lung cancer patients who are at high risk for cancer recurrence post-resection and predicts benefit from adjuvant chemotherapy. Oncocyte has also launched DetermaIO™, a gene expression test that assesses the tumor microenvironment to predict response to immunotherapies, as a research use only tool for pharmaceutical and academic clinical trials. To complement DetermaIO™, the company anticipates launching DetermaTx™, a test to assess mutational status of a tumor to help identify the appropriate targeted therapy, in the second half of 2021. The Company previously announced its planned acquisition of Chronix Biomedical Inc. and its TheraSure™ CNI Monitor test, and also plans to continue with the development of DetermaMx™ as the Company seeks to expand into the blood-based monitoring market. Oncocyte's pharmaceutical services provide pharmaceutical companies who are developing new cancer treatments a full suite of molecular testing services to support the drug development process.

Additional reading:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.