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Home » Among Top Insider Purchases Last Month
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Among Top Insider Purchases Last Month

adminBy adminJuly 1, 2007No Comments4 Mins Read
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We recently published a list of Top 10 Insider Purchases Last Month. In this article, we are going to take a look at where OncoCyte Corporation (NASDAQ:OCX) stands against other top insider purchases last month.

Will there be a recession? How will new tariffs impact the U.S. economy? What’s next on President Trump’s geopolitical agenda? These are some of the concerning questions influencing market conditions.

According to J.P. Morgan’s chief global economist, Bruce Kasman, there is about a 40% chance of a U.S. recession and a risk of lasting damage to the country’s reputation as an investment destination, writes Reuters.

“Where we stand now is with a heightened concern about the U.S. economy,” Kasman said to reporters in Singapore on Wednesday.

Additionally, Goldman Sachs lowered its 2025-end target for the broader market. “The proximate causes of the market decline are the jump in policy uncertainty largely related to tariffs, concerns about the economic growth outlook, and a positioning unwind, especially among hedge funds,” analysts at Goldman Sachs wrote in a Monday note.

The experts further explained that the drop in a broader market index was mostly driven by a 14% drop in the share prices of the “Magnificent 7” stocks.

As the market responds to evolving political and economic changes, some analysts remain optimistic, particularly when it comes to the growth potential of AI technology. During these times, insider trading often captures attention, as company executives have valuable insights into their organizations. For instance, when a CEO or CFO buys company stock, it can indicate a positive outlook on the business’s future.

On the other hand, insider selling isn’t necessarily a sign of a lack of confidence, as it may stem from personal financial considerations or efforts to diversify portfolios. Executives frequently execute these transactions through pre-established plans (such as 10b5-1 plans), which are designed to avoid any appearance of improper timing.

While insider activity can offer useful signals, it’s important to consider it in the context of other factors, such as the company’s financial performance, market trends, and industry developments.

In this report, we’ll focus on the stocks that insiders spent the most money on in February. Using Insider Monkey’s insider trading screener, we’ve identified stocks where at least three insiders acquired shares last month. From this group, we’ve highlighted the 10 stocks with the highest value of insider purchases.

Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Story Continues

For each stock, we provide details on the total value of insider purchases and the company’s current market capitalization. Let’s take a look at the top 10 insider purchases from last month.

OncoCyte Corporation (OCX): Among Top Insider Purchases Last Month
OncoCyte Corporation (OCX): Among Top Insider Purchases Last Month

A biomedical laboratory with a molecular biologist wearing a lab coat studying test samples under a microscope.

Total value of insider purchases in February: $12,998,805.30

Market capitalization: $113.11 million

OncoCyte Corporation is a precision diagnostics company dedicated to developing innovative, non-invasive blood and urine tests for the early detection of cancer. Based in Irvine, California, the company creates diagnostic solutions by utilizing genetic and protein markers associated with various forms of cancer.

The company’s flagship tests include VitaGraft, a clinical blood-based test for monitoring solid organ transplantation; GraftAssure, a research-use-only blood test for the same purpose; DetermaIO, a gene expression test that evaluates the tumor microenvironment to predict responses to immunotherapy; and DetermaCNI, a blood-based tool for monitoring therapeutic efficacy in cancer patients.

In February, three insiders bought a total of nearly $13 million worth of OncoCyte Corporation shares at an average price of $2.04 per share. Year-to-date, the stock has gained 65.13% and is now priced at $3.93 per share. Over the past 12 months, its shares have risen by 30.56%.

According to three analysts’ assessments, OncoCyte stock is a “Moderate Buy” with a price target of $4.42, writes MarketBeat.

Overall, OCX ranks 9th on our list of top insider purchases last month. While we acknowledge the potential of OCX, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OCX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

Disclosure: None. This article is originally published at Insider Monkey.



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