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OCX

OncoCyte NasdaqGM:OCX Stock Report

Last Price

US$0.80

Market Cap

US$94.9m

7D

-10.1%

1Y

-78.4%

Updated

24 Sep, 2022

Data

Company Financials +
OCX fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance0/6
Financial Health4/6
Dividends0/6

OCX Stock Overview

OncoCyte Corporation, a molecular diagnostics company, researches, develops, and commercializes proprietary laboratory-developed tests for the detection of cancer in the United States and internationally.

OncoCyte Competitors

Price History & Performance

Summary of all time highs, changes and price drops for OncoCyte
Historical stock prices
Current Share PriceUS$0.80
52 Week HighUS$3.98
52 Week LowUS$0.68
Beta1.78
1 Month Change-11.11%
3 Month Change-21.57%
1 Year Change-78.38%
3 Year Change-58.55%
5 Year Change-89.40%
Change since IPO-87.20%

Recent News & Updates

Aug 30

Oncocyte stock jumps ~15% after hours on contract for lung-cancer detection test

Oncocyte (NASDAQ:OCX) on Tuesday said it had been awarded a U.S. Department of Veterans Affairs contract for its DetermaRx test. Shares of the micro-cap precision diagnostics company jumped 14.9% to $0.93 after hours. The company said it had been awarded a federal supply schedule contract for the DetermaRx test, which is used to identify early-stage lung cancer patients who are at high risk for cancer recurrence. OCX did not provide any details on the contract value.

Shareholder Returns

OCXUS BiotechsUS Market
7D-10.1%-5.0%-5.2%
1Y-78.4%-30.0%-23.0%

Return vs Industry: OCX underperformed the US Biotechs industry which returned -30% over the past year.

Return vs Market: OCX underperformed the US Market which returned -23.1% over the past year.

Price Volatility

Is OCX's price volatile compared to industry and market?
OCX volatility
OCX Average Weekly Movement8.9%
Biotechs Industry Average Movement11.1%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: OCX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: OCX's weekly volatility (9%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2009113Ronnie, Ron Andrewshttps://oncocyte.com

OncoCyte Corporation, a molecular diagnostics company, researches, develops, and commercializes proprietary laboratory-developed tests for the detection of cancer in the United States and internationally. The company offers DetermaRx, a molecular test for early-stage adenocarcinoma of the lung; and DetermaIO, a proprietary gene expression assay. It also provides biomarker discovery testing, assay design and development, and clinical trial support services, as well as various biomarker tests for pharmaceutical companies.

OncoCyte Fundamentals Summary

How do OncoCyte's earnings and revenue compare to its market cap?
OCX fundamental statistics
Market CapUS$94.89m
Earnings (TTM)-US$68.35m
Revenue (TTM)US$8.06m

11.8x

P/S Ratio

-1.4x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OCX income statement (TTM)
RevenueUS$8.06m
Cost of RevenueUS$7.88m
Gross ProfitUS$187.00k
Other ExpensesUS$68.54m
Earnings-US$68.35m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.58
Gross Margin2.32%
Net Profit Margin-847.57%
Debt/Equity Ratio0.7%

How did OCX perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is OCX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for OCX?

Other financial metrics that can be useful for relative valuation.

OCX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue7.3x
Enterprise Value/EBITDA-1.3x
PEG Ration/a

Price to Sales Ratio vs Peers

How does OCX's PS Ratio compare to its peers?

OCX PS Ratio vs Peers
The above table shows the PS ratio for OCX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average14.7x
AQB AquaBounty Technologies
19.6x63.8%US$56.9m
MREO Mereo BioPharma Group
2.3x42.0%US$91.5m
SLDB Solid Biosciences
3.9x16.9%US$57.9m
ARMP Armata Pharmaceuticals
33.2x50.2%US$177.8m
OCX OncoCyte
11.8x77.1%US$94.9m

Price-To-Sales vs Peers: OCX is good value based on its Price-To-Sales Ratio (11.8x) compared to the peer average (14.7x).


Price to Earnings Ratio vs Industry

How does OCX's PE Ratio compare vs other companies in the US Biotechs Industry?

Price-To-Sales vs Industry: OCX is good value based on its Price-To-Sales Ratio (11.8x) compared to the US Biotechs industry average (12.5x)


Price to Sales Ratio vs Fair Ratio

What is OCX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OCX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio11.8x
Fair PS Ratio12.2x

Price-To-Sales vs Fair Ratio: OCX is good value based on its Price-To-Sales Ratio (11.8x) compared to the estimated Fair Price-To-Sales Ratio (12.2x).


Share Price vs Fair Value

What is the Fair Price of OCX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate OCX's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate OCX's fair value for valuation analysis.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is OncoCyte forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OCX is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: OCX is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: OCX is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: OCX's revenue (77.1% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: OCX's revenue (77.1% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if OCX's Return on Equity is forecast to be high in 3 years time


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Past Performance

How has OncoCyte performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-31.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: OCX is currently unprofitable.

Growing Profit Margin: OCX is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: OCX is unprofitable, and losses have increased over the past 5 years at a rate of 31.1% per year.

Accelerating Growth: Unable to compare OCX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: OCX is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (29.2%).


Return on Equity

High ROE: OCX has a negative Return on Equity (-77.5%), as it is currently unprofitable.


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Financial Health

How is OncoCyte's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: OCX's short term assets ($49.4M) exceed its short term liabilities ($14.2M).

Long Term Liabilities: OCX's short term assets ($49.4M) do not cover its long term liabilities ($68.8M).


Debt to Equity History and Analysis

Debt Level: OCX has more cash than its total debt.

Reducing Debt: OCX's debt to equity ratio has reduced from 34.4% to 0.7% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: OCX has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: OCX has sufficient cash runway for 1.3 years if free cash flow continues to reduce at historical rates of 29.3% each year.


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Dividend

What is OncoCyte current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate OCX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate OCX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if OCX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if OCX's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as OCX has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure


CEO

Ronnie, Ron Andrews (62 yo)

3.17yrs

Tenure

US$2,921,838

Compensation

Mr. Ronald A. Andrews, Jr., also known as Ronnie or Ron, has been an Independent Director of Precipio, Inc. since March 01, 2021. Mr. Andrews has been the Chief Executive Officer of OncoCyte Corporation si...


CEO Compensation Analysis

Compensation vs Market: Ronnie, Ron's total compensation ($USD2.92M) is above average for companies of similar size in the US market ($USD780.01K).

Compensation vs Earnings: Ronnie, Ron's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: OCX's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: OCX's board of directors are not considered experienced ( 2.6 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: OCX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqGM:OCX Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
17 Aug 22BuyUS$13,500Andrew ArnoIndividual15,000US$0.90
17 Aug 22BuyUS$17,400Andrew LastIndividual20,000US$0.87
16 Aug 22BuyUS$144,121Andrew ArnoIndividual150,000US$0.97
16 Aug 22BuyUS$10,000Melinda GriffithIndividual10,000US$1.00
16 Aug 22BuyUS$9,975Jennifer CarterIndividual10,500US$0.95
16 Aug 22BuyUS$38,400Ronald AndrewsIndividual40,000US$0.96
15 Aug 22BuyUS$9,700Alfred KingsleyIndividual10,000US$0.97
15 Aug 22BuyUS$23,250John GutfreundIndividual25,000US$0.93
24 Jun 22SellUS$102,635Pura Vida Investments, LLCCompany99,386US$1.05
14 Apr 22BuyUS$8,000,000Broadwood Capital, Inc.Company6,003,752US$1.33
14 Apr 22BuyUS$6,047,083Pura Vida Investments, LLCCompany4,550,269US$1.33
14 Apr 22BuyUS$1,840,766Lockheed Martin CorporationCompany1,381,438US$1.33
25 Mar 22BuyUS$21,000Douglas RossIndividual15,000US$1.40
17 Mar 22BuyUS$19,767Gisela PaulsenIndividual16,500US$1.20
16 Mar 22BuyUS$47,560Cavan RedmondIndividual40,000US$1.19
16 Mar 22BuyUS$64,150Ronald AndrewsIndividual50,000US$1.28
15 Mar 22BuyUS$29,150Mitchell LevineIndividual25,000US$1.17

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 28%.


Top Shareholders

Top 25 shareholders own 71.66% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
19.66%
Broadwood Capital, Inc.
23,323,203$18.7m-0.13%1.44%
15.22%
Pura Vida Investments, LLC
18,056,274$14.4m47.71%2.26%
6.53%
AWM Investment Company Inc
7,746,557$6.2m3102.82%0.97%
6.01%
Halle Capital Management
7,129,456$5.7m0%no data
4.32%
George Karfunkel
5,120,000$4.1m0%no data
3.66%
The Vanguard Group, Inc.
4,346,530$3.5m9.04%no data
2.78%
Lineage Cell Therapeutics, Inc.
3,297,401$2.6m0%no data
2.39%
OrbiMed Advisors LLC
2,837,800$2.3m-18.78%0.04%
2.18%
Defender Capital Llc
2,589,380$2.1m1.06%0.85%
1.98%
BlackRock, Inc.
2,343,426$1.9m-52.5%no data
1.16%
Lockheed Martin Corporation
1,381,438$1.1m0%no data
0.84%
Millennium Management LLC
996,169$796.9k0%no data
0.82%
Geode Capital Management, LLC
973,322$778.7k-23.15%no data
0.81%
Schonfeld Strategic Advisors LLC
957,400$765.9k-5.27%0.01%
0.49%
Penbrook Management LLC
575,750$460.6k-0.42%0.4%
0.42%
Goldman Sachs Group, Investment Banking and Securities Investments
495,151$396.1k25.99%no data
0.34%
Alfred Kingsley
404,111$323.3k2.54%no data
0.31%
Gisela Paulsen
366,500$293.2k2121.21%no data
0.28%
Ronald Andrews
333,212$266.6k13.64%no data
0.28%
ACT Capital Management
330,000$264.0k0%0.39%
0.28%
State Street Global Advisors, Inc.
327,145$261.7k-75.9%no data
0.25%
Andrew Arno
302,049$241.6k147.48%no data
0.24%
Abaris Investment Management AG
285,000$228.0k-3.72%0.29%
0.21%
Citadel Advisors LLC
251,517$201.2k515.56%no data
0.2%
Ergoteles LLC
232,133$185.7k0%0.01%

Company Information

OncoCyte Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: OncoCyte Corporation
  • Ticker: OCX
  • Exchange: NasdaqGM
  • Founded: 2009
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: US$94.887m
  • Shares outstanding: 118.61m
  • Website: https://oncocyte.com

Number of Employees


Location

  • OncoCyte Corporation
  • 15 Cushing
  • Irvine
  • California
  • 92618
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OCXNasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDDec 2015
7OCDB (Deutsche Boerse AG)YesCommon SharesDEEURDec 2015
0KCCLSE (London Stock Exchange)YesCommon SharesGBUSDDec 2015

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/24 00:00
End of Day Share Price2022/09/23 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.