OncoCyte Corporation (OCX) Stock: Why It’s Gaining

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OncoCyte Corporation (OCX) is making a move up in the market in today’s trading session. The company, focused in the biotechnology space, is presently priced at $5.04 after climbing 17.76% so far today. In terms of biotech companies, there are several factors that have the ability to generate movement in the market. News is one of the most common reasons for movement. Here are the recent trending headlines relating to OCX:

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May-14-19 11:44PM OncoCyte Corporation (OCX) Q1 2019 Earnings Call Transcript
04:18PM OncoCyte: 1Q Earnings Snapshot
04:05PM OncoCyte Provides Corporate Update and Reports First Quarter 2019 Financial Results
02:30PM OncoCyte Corp. to Host Earnings Call
May-08-19 04:01PM OncoCyte to Report First Quarter 2019 Financial Results on Tuesday, May 14

Nonetheless, any time investors are making a decision to invest, prospective investors should look at far more than news, this is especially the case in the generally speculative biotech sector. Here’s what’s happing when it comes to OncoCyte Corporation.

Returns That OCX Investors Have Seen

While a move toward the top in a single session, like the move that we’re seeing from OncoCyte Corporation may make some investors jump for joy, a single session gain alone should not be the basis of a decision to, or not to, invest in a stock. It is always a good idea to take a look at trends beyond a single trading session. As it relates to OCX, here are the returns on investment that we’ve seen:

  • Past Seven Days – In the past 5 trading sessions, OCX has seen a change in value amounting to 12.50%.
  • Past 30 Days – The ROI from OncoCyte Corporation throughout the last 30 days works out to 19.43%.
  • Past Quarter – Over the last three months, the company has generated a ROI that works out to 30.57%
  • Past 6 Months – Over the last six months, investors have seen a change that works out to 165.26% from the company.
  • This Year So Far – Since the open of this year OCX has produced a ROI of 265.22%.
  • Annually – Finally, in the last year, we’ve seen performance in the amount of 110.00% out of OCX. In this period of time, the stock has sold at a high of -27.17% and a low of 332.62%.

Key Ratios

Digging into a few key ratios having to do with a company can give investors an understanding of how risky and/or potentially profitable a pick might be. Below are some of the most important ratios to consider when digging into OCX.

Short Ratio – The short ratio is a measure of short interest. As the short ratio goes higher, it means that more investors are expecting that the value of the stock is headed for declines. Throughout the sector, biotech stocks can carry a higher short ratio. However, we also see quite a few short squeezes in the industry. Nonetheless, in regard to OncoCyte Corporation, the stock’s short ratio comes to 2.59.

Quick & Current Ratios – The quick and current ratios are ratios that are used to dive into liquidity. Basically, they measure If a company is able to pay for its debts when they mature based on current assets or quick assets. In the biotech space, several companies are reliant on the continuation of investor support, these ratios can be upsetting. However, some better companies in the biotech industry come with strong quick and current ratios. As it relates to OCX, the quick and current ratios total up to 1.60 and 1.60 respectively.  

Book To Share Value – The book to share value compares the the price of shares to the current book value of assets owned by the company. In this case, the book to share value ratio comes in at 0.08.

Cash To Share Value – The cash to share value ratio compares the amount of cash the company has on hand to the value of the company’s stock. Several early stage biotechnology companies struggle to keep cash on hand. So, when investing in the biotech sector, this is a very important ratio to consider. In this case, the cash to share value is 0.17.

What Analysts Think About OncoCyte Corporation

Although it’s never a smart idea to avoid doing your due diligence and blindly following the thoughts of analysts, it is a smart idea to use their opinions when validating your own thoughts before making investment decisions in the biotechnology space. Below are the most recent moves that we have seen from analysts as it relates to OCX.

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Feb-13-19 Initiated Piper Jaffray Overweight $6
Jan-29-19 Upgrade Janney Neutral → Buy
Dec-19-18 Resumed Lake Street Buy

What Are Big Money Players Doing With OncoCyte Corporation

One thing that I have learned in my short time here has been that good investors tend to follow the moves made by big money players. So, investors that are looking to keep their investments relatively safe will follow trades made by institutional investors and insiders of the company. So, is big money flowing in regard to OCX? Here’s what’s happening:

Institutions own 22.30% of the company. Institutional interest has moved by 40.94% over the past three months. When it comes to insiders, those who are close to the company currently own 47.30% percent of OCX shares. Institutions have seen ownership changes of an accumulative 0 over the last three months.

What’s Going On With Share Counts?

Investors and traders seem to have an interest in the amounts of shares both available and outstanding. In regard to OncoCyte Corporation, there are currently 49.25M with a float of 27.39M. These data mean that of the total of 49.25M shares of OCX that are out there today, 27.39M are available to trade hands on the public market.

Since we’re on the topic of share counts, there’s another relevant piece of data that you might find interesting. That would be the short percentage of the float. Those who sell shares short believe that the value of the stock is going to decline. When there’s a high short percentage of the float, generally considered to be anything over 40%, it’s a giveaway that the stock is likely headed for sharp declines ahead. Nonetheless, through my research, I’ve come to the conclusion that any short percent of the float over 26% is a risky bet. When it comes to OCX, the short percent of the float is 2.85%.

Earnings

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $-0.40. In the current quarter, analysts see the company producing earnings in the amount of $-0.09. Over the last 5 years, OCX has generated revenue in the amount of $0 with earnings coming in at 10.80%. On a quarter over quarter basis, earnings have seen movement of 12.20% and revenue has seen movement of 0.

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