Andrew Arno is the independent chairman of OncoCyte Corporation (NASDAQ:OCX) and they just acquired 123% more shares

Potential OncoCyte Corporation (NASDAQ:OCX) Shareholders may want to note that Independent Chairman Andrew Arno recently purchased US$144,000 worth of stock, paying US$0.96 for each share. We think that’s a good sign, especially since the purchase boosted their stake by 123%.

The last 12 months of insider trading at OncoCyte

In fact, the recent purchase by Andrew Arno was the largest purchase of OncoCyte stock by an insider in the past twelve months, according to our records. This means that an insider was happy to buy shares above the current price of $0.90. It is very possible that they regret the purchase, but it is more likely that they are optimistic about the company. For us, it is very important to consider the price that insiders pay for the shares. Generally speaking, it comes to our attention when insiders have bought stocks at higher prices than they are now, as it suggests that they thought the stock was worth buying, even at a higher price.

OncoCyte insiders may have bought shares in the past year, but they haven’t sold any. You can see a visual representation of insider trading (by companies and individuals) over the past 12 months, below. By clicking on the graph below, you will be able to see the precise detail of each insider trade!

NasdaqGM: OCX Insider Trading Volume August 20, 2022

OncoCyte isn’t the only stock insiders are buying. So take a look at this free list of growing companies with insider buying.

Insider ownership

I like to look at how many shares insiders own in a company, to help me get a sense of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely insiders will be incentivized to build the business for the long term. Our data indicates that OncoCyte insiders own approximately $9.0 million in stock (or 8.3% of the company). Overall, this level of property isn’t that impressive, but it’s definitely better than nothing!

What could insider trading at OncoCyte tell us?

Recent insider buying is encouraging. And an analysis of last year’s transactions also gives us confidence. But we don’t feel the same way about the company making losses. Although overall insider ownership levels are lower than we would like to see, trading history implies that OncoCyte insiders are reasonably well aligned and optimistic about the future. So these insider trades can help us build a thesis on the stock, but it’s also helpful to know the risks this company faces. For example – OncoCyte has 3 warning signs we think you should know.

But note: OncoCyte may not be the best stock to buy. So take a look at this free list of interesting companies with high ROE and low debt.

For the purposes of this article, insiders are persons who report their transactions to the relevant regulatory body. We currently record open market transactions and private dispositions, but not derivative transactions.

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