A Few Bright Spots In Oncolytics Biotech Inc. (NASDAQ: ONCY)

Oncolytics Biotech Inc. (NASDAQ:ONCY) currently has a daily average trading volume of 179.84K but it saw 1061233 shares traded on Wednesday. With a market cap of 127.15M USD, stock’s current market price of $2.15 came rising about 20.11 while comparing to the previous closing price of $1.79. In past 52 weeks, the stock remained buoying in the range of price level as high as $2.28 and as low as $0.80. In the recent trading on the day, stock has struck highest price mark of $2.15 while lowest mark touched by it was $1.80.

Taking a look at 20-day trading activity of Oncolytics Biotech Inc. (ONCY) gives us an average price of $1.6500, while its current price level is -5.70% below from 52-week high level whereas it is 168.05% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $1.3800 while that of 200 days or SMA-200 reads an average of $1.4800. A closer look into the stock’s movement over the week reveals that its volatility is standing at 11.67% during that period while stretching the period over a month that decreases to 9.95%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 72.64 which implies that the stock is in overbought territory.

Oncolytics Biotech Inc. (ONCY)’s stock is currently under the radar of 7 analysts who are in consensus at a 12-month price target range of between $3.00 and $15.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $3.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $15.00. Average price target assigned by them is $6.73 which highlights an upside potential of 68.05% for the stock over that period. And to attain the median price target of $6.33 assigned by those analysts, stock has to add about 66.03% of value to its current levels.

Data by FactSet Research shows that 7 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 7 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Strong Buy.

Over the week, ONCY’s stock price is moving 37.82% up while it is 90.27% when we observe its performance for the past one month. Year-to-date it is 31.90% up and over the past year, the stock is showing an upside performance of 97.25%.

The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.07 beat the consensus estimate of -$0.1 for the same. The company is expected to be releasing its next quarterly report in 08/04/2023, for which analysts forecasted an EPS of -$0.09 while estimate for next year EPS is -$0.31. For ONCY, analysts are forecasting an EPS-growth rate of 3.10% for current year and estimate for EPS growth in next year is -9.70%.

Currently, Oncolytics Biotech Inc.’s total number of outstanding shares is 62.34M with 1.34% of that held by the insiders while 1.47% of its common stock has been owned by the institutions. Company’s return on equity (ROE) at -87.90%. Stock’s beta reads 2.04. Stock has a price to book (P/B) ratio of 6.94. Its return on asset (ROA) is -64.50% on average.