OncoSec Medical Incorporated [NASDAQ: ONCS] gained 13.39% or 0.15 points to close at $1.27 with a heavy trading volume of 27589472 shares. The company report on April 10, 2023 that OncoSec Announces $2 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules.
OncoSec Medical Incorporated (NASDAQ: ONCS) (the “Company” or “OncoSec”), a clinical-stage biotechnology company developing intratumoral immunotherapies to stimulate the patient’s immune system to target cancer cells and eradicate disease, today announced that it has entered into a definitive agreement for the purchase and sale of an aggregate of 1,582,932 shares of its common stock (or common stock equivalents in lieu thereof), at a purchase price of $1.25 per share (or common stock equivalent in lieu thereof), in a registered direct offering priced at-the-market under Nasdaq rules. The Company has also agreed to issue in a concurrent private placement unregistered warrants to purchase up to an aggregate of 1,582,932 shares of common stock. The warrants will have an exercise price of $1.12 per share, are immediately exercisable upon issuance, and will expire five and one-half years from the date of issuance. The closing of the offering is expected to occur on or about April 12, 2023, subject to the satisfaction of customary closing conditions.
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H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The daily chart for ONCS points out that the company has recorded -87.20% loss over the past six months.
If we look at the average trading volume of 2.19M shares, ONCS reached to a volume of 27589472 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about OncoSec Medical Incorporated [ONCS]:
BTIG Research have made an estimate for OncoSec Medical Incorporated shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 08, 2021. While these analysts kept the previous recommendation, Dawson James raised their target price to Buy. The new note on the price target was released on July 27, 2020, representing the official price target for OncoSec Medical Incorporated stock. Previously, the target price had yet another drop from $4 to $1, while H.C. Wainwright kept a Neutral rating on ONCS stock.
Trading performance analysis for ONCS stock
OncoSec Medical Incorporated [ONCS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -50.78. With this latest performance, ONCS shares dropped by -38.35% in over the last four-week period, additionally sinking by -87.20% over the last 6 months – not to mention a drop of -95.02% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONCS stock in for the last two-week period is set at 40.31, with the RSI for the last a single of trading hit 36.40, and the three-weeks RSI is set at 42.42 for OncoSec Medical Incorporated [ONCS]. The present Moving Average for the last 50 days of trading for this stock 1.8465, while it was recorded at 1.2140 for the last single week of trading, and 7.7526 for the last 200 days.
OncoSec Medical Incorporated [ONCS]: A deeper dive into fundamental analysis
OncoSec Medical Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.
An analysis of insider ownership at OncoSec Medical Incorporated [ONCS]
There are presently around $0 million, or 8.40% of ONCS stock, in the hands of institutional investors. The top three institutional holders of ONCS stocks are: STATE STREET CORP with ownership of 25,187, which is approximately 1167.589% of the company’s market cap and around 30.97% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 24,179 shares of the stock with an approximate value of $27000.0 in ONCS stocks shares; and TWO SIGMA INVESTMENTS, LP, currently with $24000.0 in ONCS stock with ownership of nearly New of the company’s market capitalization.
14 institutional holders increased their position in OncoSec Medical Incorporated [NASDAQ:ONCS] by around 107,193 shares. Additionally, 12 investors decreased positions by around 182,414 shares, while 3 investors held positions by with 129,731 shares. The mentioned changes placed institutional holdings at 159,876 shares, according to the latest SEC report filing. ONCS stock had 5 new institutional investments in for a total of 41,762 shares, while 11 institutional investors sold positions of 182,122 shares during the same period.