The stock price of Oncocyte Corporation (NASDAQ: OCX) has jumped by 8.70 compared to previous close of 2.53. Despite this, the company has seen a fall of -5.50% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-09 that IRVINE, Calif., April 09, 2024 (GLOBE NEWSWIRE) — Oncocyte Corporation (Nasdaq: OCX), a precision diagnostics company, announced today that the company will release its fourth quarter and full year 2023 financial results on Friday, April 12, 2024, prior to the U.S. market open.
Is It Worth Investing in Oncocyte Corporation (NASDAQ: OCX) Right Now?
OCX has 36-month beta value of 0.80. Analysts have mixed views on the stock, with 3 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for OCX is 7.60M, and currently, short sellers hold a 2.36% ratio of that float. The average trading volume of OCX on April 17, 2024 was 50.53K shares.
OCX’s Market Performance
OCX’s stock has seen a -5.50% decrease for the week, with a -7.72% drop in the past month and a -17.91% fall in the past quarter. The volatility ratio for the week is 11.43%, and the volatility levels for the past 30 days are at 4.86% for Oncocyte Corporation The simple moving average for the past 20 days is -6.36% for OCX’s stock, with a -16.30% simple moving average for the past 200 days.
Analysts’ Opinion of OCX
Stephens gave a rating of “Overweight” to OCX, setting the target price at $3.10 in the report published on January 07th of the previous year.
OCX Trading at -7.14% 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 -59.56% of loss for the given period.
Volatility was left at 4.86%, however, over the last 30 days, the volatility rate increased by 11.43%, as shares sank -8.94% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.24% lower at present.
During the last 5 trading sessions, OCX fell by -5.50%, which changed the moving average for the period of 200-days by -35.69% in comparison to the 20-day moving average, which settled at $2.92. In addition, Oncocyte Corporation saw 10.00% 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 2,420,000 shares at the price of $2.92 back on Apr 11 ’24. After this action, BROADWOOD PARTNERS, L.P. now owns 4,929,066 shares of Oncocyte Corporation, valued at $7,057,688 using the latest closing price.
Arno Andrew, the Director of Oncocyte Corporation, purchase 33,898 shares at $2.95 during a trade that took place back on Apr 11 ’24, which means that Arno Andrew is holding 69,054 shares at $99,999 based on the most recent closing price.
Stock Fundamentals for OCX
Current profitability levels for the company are sitting at:
- -17.32 for the present operating margin
- 0.29 for the gross margin
The net margin for Oncocyte Corporation stands at -18.48. The total capital return value is set at -0.38.
Based on Oncocyte Corporation (OCX), the company’s capital structure generated 0.1 points at debt to capital in total, while cash flow to debt ratio is standing at -9.9. The debt to equity ratio resting at 0.11. The interest coverage ratio of the stock is -90.38.
Currently, EBITDA for the company is -25.78 million with net debt to EBITDA at 0.36. When we switch over and look at the enterprise to sales, we see a ratio of 10.75. The receivables turnover for the company is 3.11for trailing twelve months and the total asset turnover is 0.02. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.49.
Conclusion
To put it simply, Oncocyte Corporation (OCX) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
