Oncocyte Corp (NASDAQ:OCX), currently trading at $2.37 with a market cap of $39.6 million, has seen a significant insider transaction as Chief Financial Officer James Andrea S. acquired shares of the company. According to a recent SEC filing, Andrea purchased 97,561 shares of Oncocyte common stock on February 7, 2025, at a price of $2.05 per share. The total value of this transaction amounts to approximately $200,000. InvestingPro analysis indicates the stock is trading near its Fair Value, while the company’s financial health score is currently rated as WEAK.
This purchase was made through a private placement, as specified in a Securities Purchase Agreement dated February 7, 2025. Following this transaction, Andrea’s direct ownership in Oncocyte stands at 151,231 shares. With a current ratio of 0.53, InvestingPro data shows the company’s short-term obligations exceed its liquid assets. Discover more insights and 7 additional ProTips about OCX with an InvestingPro subscription, including detailed analysis in the comprehensive Pro Research Report.
In other recent news, Oncocyte Corporation has seen a flurry of developments. The company entered into an amended lease agreement with Cushing Ventures, LLC, and Induce Biologics USA, Inc., setting the lease’s expiration date and establishing terms for a reduction in its letter of credit amount. In addition, Oncocyte appointed Dr. Paul Billings as its Consulting Chief Medical (TASE:PMCN) Officer, signaling a strategic move to bolster its clinical initiatives.
In a significant development, Oncocyte’s VitaGraft Kidney test for kidney transplant patients received expanded Medicare coverage, following a study highlighting the test’s effectiveness in early detection of transplant rejection. The company also revealed research indicating its DetermaCNI™ assay could be a non-invasive method for diagnosing central nervous system tumors, potentially impacting a significant number of patients.
Oncocyte’s stock maintained a Buy rating from Needham, following positive developments with its GraftAssure RUO product. The company is also making strides in financial management, focusing on reducing its quarterly cash burn. These recent developments reflect Oncocyte’s commitment to growth and innovation in the field of diagnostics.
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