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Is Oncolytics Biotech, Inc. (ONCY) a Stock to Watch This Week?

Monday, November 23, 2020 11:37 AM | InvestorsObserver Analysts

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Is Oncolytics Biotech, Inc. (ONCY) a Stock to Watch This Week?

The market has been high on Oncolytics Biotech, Inc. (ONCY) stock recently. ONCY gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bullish
Oncolytics Biotech, Inc. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ONCY!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With ONCY Stock Today?

Oncolytics Biotech, Inc. (ONCY) stock is trading at $2.49 as of 11:35 AM on Monday, Nov 23, a gain of $0.24, or 10.67% from the previous closing price of $2.25. The stock has traded between $2.27 and $2.60 so far today. Volume today is more active than usual. So far 1,761,447 shares have traded compared to average volume of 705,051 shares.

To screen for more stocks like Oncolytics Biotech, Inc. click here.

More About Oncolytics Biotech, Inc.

Oncolytics Biotech Inc. is developing an intravenously delivered immuno-oncolytic virus called pelareorep, for the treatment of solid tumors and hematological malignancies. Pelareorep is a non-pathogenic, proprietary isolate of the unmodified reovirus that: 1) induces selective tumor lysis, and 2) promotes an inflamed tumor phenotype through innate and adaptive immune responses. Our clinical development plan is based on these two components of the mechanism of action, with a focus on obtaining regulatory approval as soon as possible.

Click Here to get the full Stock Score Report on Oncolytics Biotech, Inc. (ONCY) Stock.

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