Oncorus Inc. (NASDAQ: ONCR) stock jumped 11.39% on Monday to $0.44 against a previous-day closing price of $0.40. With 0.76 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.27 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.4520 whereas the lowest price it dropped to was $0.3895. The 52-week range on ONCR shows that it touched its highest point at $3.74 and its lowest point at $0.23 during that stretch. It currently has a 1-year price target of $3.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ONCR was up-trending over the past week, with a rise of 22.22%, but this was up by 44.03% over a month. Three-month performance dropped to -41.33% while six-month performance fell -67.41%. The stock lost -87.81% in the past year, while it has gained 73.71% so far this year. A look at the trailing 12-month EPS for ONCR yields -2.95 with Next year EPS estimates of -1.60. For the next quarter, that number is -0.76. This implies an EPS growth rate of 2.00% for this year and 43.90% for next year.
Float and Shares Shorts:
At present, 25.97 million ONCR shares are outstanding with a float of 23.66 million shares on hand for trading. On Dec 29, 2022, short shares totaled 0.89 million, which was 3.43% higher than short shares on Nov 29, 2022. In addition to Dr. Mitchell H. Finer Ph.D. as the firm’s Non-Exec. Chairman, Dr. Theodore T. Ashburn M.D., Ph.D. serves as its Pres, CEO & Director.
Through their ownership of 56.92% of ONCR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.40% of ONCR, in contrast to 24.19% held by mutual funds. Shares owned by individuals account for 2.74%. As the largest shareholder in ONCR with 9.47% of the stake, Deerfield Management Co. LP holds 2,459,005 shares worth 2,459,005. A second-largest stockholder of ONCR, CHI Advisors LLC, holds 2,367,436 shares, controlling over 9.12% of the firm’s shares. Citadel Advisors LLC is the third largest shareholder in ONCR, holding 1,879,735 shares or 7.24% stake. With a 1.02% stake in ONCR, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 264,842 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.87% of ONCR stock, is the second-largest Mutual Fund holder. It holds 225,260 shares valued at 56991.0. Fidelity Extended Market Index Fu holds 0.28% of the stake in ONCR, owning 72,227 shares worth 18273.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, ONCR reported revenue of $0.00 and operating income of -$18.64M. The EBITDA in the recently reported quarter was -$18.08M and diluted EPS was -$0.74.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ONCR since 4 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ONCR analysts setting a high price target of $7.00 and a low target of $2.00, the average target price over the next 12 months is $3.67. Based on these targets, ONCR could surge 1490.91% to reach the target high and rise by 354.55% to reach the target low. Reaching the average price target will result in a growth of 734.09% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ONCR will report FY 2022 earnings on 03/06/2024. Analysts have provided yearly estimates in a range of -$2.58 being high and -$2.99 being low. For ONCR, this leads to a yearly average estimate of -$2.78. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Oncorus Inc. surprised analysts by -$0.01 when it reported -$0.76 EPS against a consensus estimate of -$0.75. The surprise factor in the prior quarter was -$0.05. Based on analyst estimates, the high estimate for the next quarter is -$0.50 and the low estimate is -$0.81. The average estimate for the next quarter is thus -$0.69.
Summary of Insider Activity:
Insiders traded ONCR stock several times over the past three months with 0 Buys and 24 Sells. In these transactions, 0 shares were bought while 215,428 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 49,000 while 215,428 shares were sold.