Last Updated: 14 Nov 2024
Executive Summary
OncoCyte Corp (OCX) is a molecular diagnostics company focused on developing and marketing proprietary tests for cancer detection.
The company has a market capitalization of $49.49 million and is currently trading at $2.80 per share.
OCX has reported negative earnings and revenue growth in recent quarters.
Analyst recommendations are mixed, with one strong buy rating and two hold ratings.
Company Overview
OncoCyte Corp is headquartered in Irvine, California.
The company's primary product is the DetermaRx test, which is used to detect early-stage lung cancer.
OCX also has a pipeline of other cancer detection tests in development.
Fundamental Analysis
OCX's financial performance has been weak in recent quarters.
The company reported a net loss of $20.22 million in the fiscal year ended December 2023.
Revenue for the same period was $10.23 million.
OCX has a negative profit margin and operating margin.
The company's return on assets and return on equity are also negative.
Technical Analysis
OCX's stock price has been trending lower in recent months.
The stock is currently trading below its 50-day and 200-day moving averages.
The relative strength index (RSI) is below 50, indicating that the stock is oversold.
Short Term Outlook
OCX's short-term outlook is uncertain.
The company's financial performance is weak, and its stock price is trending lower.
Investors should be cautious about buying OCX stock in the short term.
Long Term Outlook
OCX's long-term outlook is more positive.
The company has a promising pipeline of cancer detection tests in development.
If OCX can successfully commercialize these tests, it could generate significant revenue and earnings growth.
Investors should consider buying OCX stock for the long term if they believe in the company's technology.
Analyst Recommendations
One analyst has a strong buy rating on OCX stock.
Two analysts have hold ratings on the stock.
No analysts have sell ratings on the stock.
