OncoCyte Corporation (OCX) Stock: Here’s What’s Happening

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OncoCyte Corporation (OCX) is working its way for to the bottom in the market in today’s trading session. The stock, one that is focused in the biotech sector, is presently trading at $3.50 after tumbling -10.71% so far today. When it comes to biotechnology stocks, there are quite a few aspects that have the potential to generate declines in the market. News is one of the most common reasons for movement. Here are the most recent headlines associated with OCX:

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Jun-11-19 04:35PM The Companies Set To Join The Russell Index July 1
08:00AM OncoCyte to be Added to the Russell 2000®, 3000® and Microcap Indexes
Jun-06-19 06:30AM OncoCyte Announces Chief Executive Officer Transition
May-30-19 02:27PM Penny Stocks to Buy Using Technical Analysis for June 2019
May-29-19 04:05PM OncoCyte Announces Participation at the 2019 BIO International Convention

Nonetheless, any time investors are making a decision with regard to investing, prospective investors should look at much more than just news, this is especially the case in the speculative biotechnology industry. Here’s what’s happening in regard to OncoCyte Corporation.

Recent Moves From OCX

Although a move down on a single session, like the fall that we’re seeing from OncoCyte Corporation might cause fear in some investors, that alone should not be the reason for a decision to, or not to, invest in a stock. It is generally a good idea to dig into trends experienced by the stock for a period longer than a single session. As it relates to OCX, below are the movements that investors have experienced:

  • Past Seven Days – In the past week, OCX has seen a change in price in the amount of -4.37%.
  • Monthly – The performance from OncoCyte Corporation in the last month comes to -20.27%.
  • Past 3 Months – In the last quarter, the stock has produced a return that comes to -0.28%
  • Past 6 Months – Throughout the past 6 months, we have seen a change that equates to 120.13% from the company.
  • This Year So Far – Since the close of last year OCX has produced a return on investment of 153.62%.
  • Full Year – Finally, throughout the past full year, we have seen a change amounting to 27.27% from OCX. In this period of time, the stock has sold at a high price of -49.42% and a low price of 200.43%.

Important Ratios

Digging into a few ratios having to do with a stock can give investors a view of how dangerous and/or potentially profitable a stock pick might be. Below are some of the most important ratios to consider when looking at OCX.

Short Ratio – The short ratio is a tool that’s used to measure the level of short interest. The higher this ratio, the more investors believe that the stock is headed for declines. Across the sector, biotechnology stocks tend to come with a higher short ratio. On the other hand, we also tend to see quite a few short squeezes in the space. Nonetheless, in regard to OncoCyte Corporation, the stock’s short ratio clocks in at 3.37.

Quick & Current Ratios – The quick and current ratios are tools that are used to dive into liquidity. Basically, they measure If a company is able to pay for its debts as they mature using current assets or quick assets. In the biotech space, companies rely heavily on the continuation of support from investors, these ratios can be bad. However, some gems in the biotech sector come with good quick and current ratios. As it relates to OCX, the quick and current ratios come to 12.80 and 12.80 respectively.  

Book To Share Value – The book to share value ratio compares the the share price to the book value of assets owned by the company. In this particular case, that ratio equates to 0.82.

Cash To Share Value – Finally, the cash to share value ratio compares the total amount of cash the company has on hand to the price of shares. Many clinical stage biotech companies have a hard time keeping cash on hand. So, when investing in the biotechnology industry, this is a very important ratio to look into. As it relates to OCX, the cash to share value ratio works out to 0.84.

What Analysts Think About OncoCyte Corporation

Although it’s never a good idea to avoid doing your due diligence and blindly following the opinions of analysts, it is a good idea to use their thoughts when validating your own thoughts before making investment decisions in the biotechnology industry. Here are the most recent moves that we’ve 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

Smart Money Follows Big Money

An interesting fact I’ve learned so far in my brief period in existence has been that good investors tend to follow big money players. In other words, investors that want to play it relatively safe will pay close attention to investments made by institutional investors and insiders of the company. So, how does the big money flow as it relates to OCX? Here’s what’s going on:

  • Institutional Investors – At the moment, institutional investors hold 31.10% of OncoCyte Corporation. On the other hand, it’s important to mention that institutional ownership has moved in the amount of 112.23% over the last quarter.
  • Insider Holdings – When it comes to insiders, members of the management team and others close to OCX currently own 47.30% of OncoCyte Corporation. Insider ownership of the company has changed by 0 over the last 3 months.

How Many Shares Of OCX Are Available?

Investors seem to have a heavy interest in the total numbers of shares both available and outstanding. In regard to OncoCyte Corporation, there are currently 47.41M with a float of 27.10M. These numbers mean that of the total of 47.41M shares of OCX that are out there today, 27.10M are able to trade hands in the public space.

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 3.11%.

What We’ve Seen In Financial Results

At the moment, analysts are expecting that throughout the full year, earnings per diluted share will come in at $-0.39. 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 30.60% and revenue has seen movement of 0.

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