AMEX:OCX

Stock Analysis Report

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Executive Summary

OncoCyte Corporation engages in the development and commercialization of non-invasive blood-based diagnostic tests for the early detection of cancer.


Snowflake Analysis

Adequate balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has OncoCyte's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: OCX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-0.7%

OCX

0.5%

US Biotechs

3.0%

US Market


1 Year Return

-29.8%

OCX

27.3%

US Biotechs

9.9%

US Market

Return vs Industry: OCX underperformed the US Biotechs industry which returned 27.3% over the past year.

Return vs Market: OCX underperformed the US Market which returned 9.9% over the past year.


Shareholder returns

OCXIndustryMarket
7 Day-0.7%0.5%3.0%
30 Day9.1%9.2%8.2%
90 Day22.1%12.8%0.4%
1 Year-29.8%-29.8%28.6%27.3%12.4%9.9%
3 Year-51.2%-51.2%34.7%30.2%31.0%22.3%
5 Yearn/a-1.9%-7.8%58.1%40.3%

Price Volatility Vs. Market

How volatile is OncoCyte's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is OncoCyte undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: OCX ($2.76) is trading below our estimate of fair value ($13.41)

Significantly Below Fair Value: OCX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: OCX is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: OCX is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate OCX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: OCX is overvalued based on its PB Ratio (4.7x) compared to the US Biotechs industry average (3.7x).


Next Steps

Future Growth

How is OncoCyte forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

59.9%

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 (61.8% per year) is forecast to grow faster than the US market (8.8% per year).

High Growth Revenue: OCX's revenue (61.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: OCX is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has OncoCyte performed over the past 5 years?

-22.5%

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 -22.5% 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 (-4.5%).


Return on Equity

High ROE: OCX has a negative Return on Equity (-71.79%), as it is currently unprofitable.


Next Steps

Financial Health

How is OncoCyte's financial position?


Financial Position Analysis

Short Term Liabilities: OCX's short term assets ($18.1M) exceed its short term liabilities ($6.9M).

Long Term Liabilities: OCX's short term assets ($18.1M) exceed its long term liabilities ($16.0M).


Debt to Equity History and Analysis

Debt Level: OCX's debt to equity ratio (8.4%) is considered satisfactory.

Reducing Debt: OCX had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


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 less than a year of cash runway if free cash flow continues to reduce at historical rates of 33.7% each year


Next Steps

Dividend

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


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.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of OCX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

1.0yrs

Average management tenure


CEO

Ronnie, Ron Andrews (59yo)

0.83

Tenure

US$2,102,212

Compensation

Mr. Ronald A. Andrews, Jr., also known as Ronnie or Ron, has been Chief Executive Officer and President of OncoCyte Corporation since July 1, 2019 and is its Director since April 2018. Mr. Andrews has been ...


CEO Compensation Analysis

Compensation vs Market: Ronnie, Ron's total compensation ($USD2.10M) is above average for companies of similar size in the US market ($USD1.38M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Ronald Andrews
CEO, President & Director0.83yrUS$2.10m0.093% $173.1k
Mitchell Levine
Chief Financial Officer2.42yrsUS$1.16m0.040% $73.4k
Lyndal Hesterberg
Chief Scientific Officer1.17yrsUS$1.22m0.0013% $2.4k
William Annett
no dataUS$1.63m0.0052% $9.7k
Albert Parker
COO & Secretary1.75yrsno datano data
Tony Kalajian
Senior VP & Chief Accounting Officer0.75yrno data0.015% $27.6k
Padma Sundar
Senior Vice President of Commercial Marketing & Market Access0.33yrno datano data
Douglas Ross
Chief Medical Officer0.17yrno datano data
Michael West
Scientific Advisor4.58yrsUS$328.84kno data

1.0yrs

Average Tenure

65yo

Average Age

Experienced Management: OCX's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Ronald Andrews
CEO, President & Director0.83yrUS$2.10m0.093% $173.1k
Andrew Arno
Independent Director4.83yrsUS$130.34k0.15% $282.8k
Alfred Kingsley
Director10.58yrsUS$105.34k0.41% $755.9k
Cavan Redmond
Independent Chairman of the Board2yrsUS$155.10k0.078% $144.8k
Melinda Griffith
Independent Director0.83yrUS$90.34kno data
Andrew Last
Independent Director4.42yrsUS$137.84k0.010% $19.3k
Thomas Bauer
Member of Scientific & Medical Advisory Board3yrsno datano data
Aditya Mohanty
Director5yrsUS$185.51kno data
D. Hogarth
Member of Scientific & Medical Advisory Board3yrsno datano data
Edward Patz
Member of Scientific & Medical Advisory Board3yrsno datano data

3.0yrs

Average Tenure

59yo

Average Age

Experienced Board: OCX's board of directors are considered experienced (3 years average tenure).


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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 29.3%.


Top Shareholders

Company Information

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


Key Information

  • Name: OncoCyte Corporation
  • Ticker: OCX
  • Exchange: AMEX
  • Founded: 2009
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$185.521m
  • Shares outstanding: 67.22m
  • Website: https://www.oncocyte.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
OCXAMEX (NYSE MKT LLC)YesCommon SharesUSUSDDec 2015
7OCDB (Deutsche Boerse AG)YesCommon SharesDEEURDec 2015
0KCCLSE (London Stock Exchange)YesCommon SharesGBUSDDec 2015

Biography

OncoCyte Corporation engages in the development and commercialization of non-invasive blood-based diagnostic tests for the early detection of cancer. The company is developing DetermaVu, a non-invasive molecular lung cancer confirmatory diagnostic that is administered to patients as a blood test. It also develops diagnostic tests based on liquid biopsies for detecting breast cancer. The company was founded in 2009 and is headquartered in Irvine, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/31 06:17
End of Day Share Price2020/05/29 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.