Is a Correction Looming Ahead for OncoCyte Corporation (OCX)

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OncoCyte Corporation (AMEX:OCX) went down by -6.76% from its latest closing price compared to the recent 1-year high of $6.57. The company’s stock price has collected -21.42% of loss in the last five trading sessions. Press Release reported on 02/25/21 that Oncocyte Closes Second Investment In Razor Genomics to Complete Acquisition

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Is It Worth Investing in OncoCyte Corporation (AMEX :OCX) Right Now?

Plus, the 36-month beta value for OCX is at 1.96. Opinions of the stock are interesting as 5 analysts out of 5 who provided ratings for OncoCyte Corporation declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”


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The average price from analysts is $7.80, which is $1.59 above the current price. OCX currently public float of 36.33M and currently shorts hold a 5.23% ratio of that float. Today, the average trading volume of OCX was 2.51M shares.

OCX’s Market Performance

OCX stocks went down by -21.42% for the week, with a monthly drop of -11.13% and a quarterly performance of 154.19%, while its annual performance rate touched 101.33%. The volatility ratio for the week stands at 11.10% while the volatility levels for the past 30 days are set at 11.20% for OncoCyte Corporation. The simple moving average for the period of the last 20 days is -20.66% for OCX stocks with a simple moving average of 86.80% for the last 200 days.

Analysts’ Opinion of OCX

Many brokerage firms have already submitted their reports for OCX stocks, with The Benchmark Company repeating the rating for OCX by listing it as a “Buy.” The predicted price for OCX in the upcoming period, according to The Benchmark Company is $6 based on the research report published on January 07th of the current year 2021.

Piper Sandler, on the other hand, stated in their research note that they expect to see OCX reach a price target of $4, previously predicting the price at $2. The rating they have provided for OCX stocks is “Overweight” according to the report published on December 16th, 2020.

BTIG Research gave a rating of “Buy” to OCX, setting the target price at $5 in the report published on November 30th of the previous year.

OCX Trading at 6.00% from the 50-Day Moving Average

After a stumble in the market that brought OCX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -30.75% of loss for the given period.

Volatility was left at 11.20%, however, over the last 30 days, the volatility rate increased by 11.10%, as shares sank -10.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +73.00% upper at present.

During the last 5 trading sessions, OCX fell by -21.42%, which changed the moving average for the period of 200-days by +56.36% in comparison to the 20-day moving average, which settled at $5.71. In addition, OncoCyte Corporation saw 90.38% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at OCX starting from BROADWOOD PARTNERS, L.P., who purchase 600,000 shares at the price of $4.50 back on Feb 05. After this action, BROADWOOD PARTNERS, L.P. now owns 16,776,484 shares of OncoCyte Corporation, valued at $2,700,000 using the latest closing price.

BROADWOOD PARTNERS, L.P., the 10% Owner of OncoCyte Corporation, purchase 1,460,280 shares at $3.42 during a trade that took place back on Jan 20, which means that BROADWOOD PARTNERS, L.P. is holding 16,176,484 shares at $4,999,999 based on the most recent closing price.

Stock Fundamentals for OCX

The total capital return value is set at -106.11, while invested capital returns managed to touch -113.91. Equity return is now at value -89.10, with -57.30 for asset returns.

Based on OncoCyte Corporation (OCX), the company’s capital structure generated 19.25 points at debt to equity in total, while total debt to capital is 16.14. Total debt to assets is 14.89, with long-term debt to equity ratio resting at 14.86. Finally, the long-term debt to capital ratio is 12.46.

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The liquidity ratio also appears to be rather interesting for investors as it stands at 5.17.

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