Is Oncolytics Biotech Inc (ONCY) Stock About to Get Hot Tuesday?

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

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

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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. 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 down -3.55% while the S&P 500 is higher by 0.33% as of 1:27 PM on Tuesday, Oct 24. ONCY is lower by -$0.06 from the previous closing price of $1.69 on volume of 630,432 shares. Over the past year the S&P 500 has gained 11.42% while ONCY is higher by 28.35%. ONCY lost -$0.32 per share in the over the last 12 months.

More About Oncolytics Biotech Inc

Oncolytics Biotech Inc is a development-stage biopharmaceutical company. The company is focused on the discovery and development of pharmaceutical products for the treatment of cancers that have not been treated with therapeutics. Its clinical development plan has the approval of its products as quickly as possible and expands its products into commercially valuable new treatment areas as objectives. The company's product pipeline includes Bavencio, Keytruda, Retifanlimab, and Tecentriq. Click Here to get the full Stock Report for Oncolytics Biotech Inc stock.