The trading price of Oncolytics Biotech Inc. (NASDAQ:ONCY) closed higher on Tuesday, Jan 12, closing at $2.63, 6.46% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $2.6200 and $2.9000. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 2.83. In examining the 52-week price action we see that the stock hit a 52-week high of $4.19 and a 52-week low of $0.94. Over the past month, the stock has gained 4.09% in value.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Oncolytics Biotech Inc. no upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ONCY has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ONCY a recommendation rating is 4. Out of them, no one rate it a Hold, while 4 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Oncolytics Biotech Inc. (ONCY) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that ONCY’s price is currently 14.29% off the SMA20 and 10.06% off the SMA50. The RSI metric on the 14-day chart is currently showing 58.77, and weekly volatility stands at 8.97%. When measured over the past 30 days, the indicator reaches 8.1%. Oncolytics Biotech Inc. (NASDAQ:ONCY)’s beta value is currently sitting at 2.83, while the Average True Range indicator is currently displaying 0.25. With analysts defining $4.57-$9 as the low and high price targets, we arrive at a consensus price target of $6.81 for the trailing 12-month period. The current price is about 63.21% off the estimated low and 221.43% off the forecast high, based on this estimate. Investors will be thrilled if ONCY’s share price rises to $6.83, which is the median consensus price. At that level, ONCY’s share price would be +143.93% above current price.

To see how Oncolytics Biotech Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: ONCY stock’s performance was +6.46% in the latest trading, and -20.23% in the past year, while Bristol-Myers Squibb Company (BMY) has traded +0.71% on the day and positioned -1.09% lower than it was a year ago. Another comparable company Amgen Inc (AMGN) saw its stock close -0.41% lower in the most recent trading session but was down -0.14% in a year. Furthermore, Gilead Sciences Inc (GILD) showed an increase of 6.46% on the day while its price kept declining at -20.23% over the past year. Oncolytics Biotech Inc. has a P/E ratio of 0, compared to Bristol-Myers Squibb Company’s 0 and Amgen Inc’s 19.08. Also in last trading session, the S&P 500 Index has surged 0.04%, while the Dow Jones Industrial also saw a positive session, up +0.19% on the day.

An evaluation of the daily trading volume of Oncolytics Biotech Inc. (NASDAQ:ONCY) indicates that the 3-month average is 1.2 Million. However, this figure has increased over the past 10 days to an average of 1Million.

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Currently, records show that 43.3 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 1.24% of outstanding shares, whereas institutions hold 1.85%. The stats also highlight that short interest as of December 14, 2020, stood at 1.73 Million shares, resulting in a short ratio of 0.79 at that time. From this, we can conclude that short interest is 3.99% of the company’s total outstanding shares. It is noteworthy that short shares in December were down slightly from the previous month’s figure, which was 1.91 Million. However, since the stock’s price has seen +17.65% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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