Oncolytics Biotech Inc. (ONCY) shares are trading at higher $2.77.
To add more color to this target, the company’s high over the last year is $6.02 and the low is $0.94. Over the last 52 weeks, ONCY is up 152.97% while the S&P 500 is up 15.29%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
ONCY Return on Equity (ROE) is -190.80%, and its Return on Assets is -108.50%. All told, it is clear that, ONCY needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ONCY has a short ratio of 3.06 and outstanding shares of 43.30M.
ONCY has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.03 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.80. Oncolytics Biotech Inc. ONCY also noted assets of $23.45 million at the end of the last quarter. Investors should also keep an eye on sector updates as ONCY has historically followed its peers on positive news.
All told, Oncolytics Biotech Inc. ONCY has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ONCY represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Oncolytics Biotech Inc. ONCY is now commanding a market cap of 116.81M and a float of 42.52M. ONCY is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ONCY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in ONCY, either long or short, and we have not been compensated for this article.