Yahoo Finance Insider Buying: The OncoCyte Corporation (NASDAQ:OCX) Independent Chairman Just Bought 123% More Shares
Potential OncoCyte Corporation (NASDAQ:OCX) shareholders may wish to note that the Independent Chairman, Andrew Arno, recently bought US$144k worth of stock, paying US$0.96 for each share. That certainly has us anticipating the best, especially since they thusly increased their own holding by 123%, potentially signalling some real optimism.
View our latest analysis for OncoCyte
OncoCyte Insider Transactions Over The Last Year
In fact, the recent purchase by Andrew Arno was the biggest purchase of OncoCyte shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at above the current price of US$0.90. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
OncoCyte insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data indicates that OncoCyte insiders own about US$9.0m worth of shares (which is 8.3% of the company). Whilst better than nothing, we're not overly impressed by these holdings.
So What Do The OncoCyte Insider Transactions Indicate?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that OncoCyte insiders are reasonably well aligned, and optimistic for the future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Every company has risks, and we've spotted 3 warning signs for OncoCyte you should know about.
But note: OncoCyte may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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