OncoSec Medical Inc (NASDAQ:ONCS) Sees Large Increase in Short Interest

OncoSec Medical Inc (NASDAQ:ONCS) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 240,300 shares, an increase of 42.4% from the July 31st total of 168,800 shares. Currently, 4.5% of the shares of the company are sold short. Based on an average daily volume of 154,200 shares, the short-interest ratio is presently 1.6 days.

OncoSec Medical stock traded up $0.06 during mid-day trading on Friday, reaching $2.00. The company’s stock had a trading volume of 53,039 shares, compared to its average volume of 112,879. OncoSec Medical has a 12-month low of $1.80 and a 12-month high of $19.60. The firm’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $1.58.

OncoSec Medical (NASDAQ:ONCS) last released its quarterly earnings data on Friday, June 14th. The biotechnology company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.34. On average, equities research analysts forecast that OncoSec Medical will post -5.27 EPS for the current year.

A number of research firms recently weighed in on ONCS. ValuEngine upgraded shares of OncoSec Medical from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of OncoSec Medical from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, Maxim Group set a $6.00 price objective on shares of OncoSec Medical and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $19.75.

In related news, Director Alpha Holdings, Inc. purchased 90,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was bought at an average price of $2.30 per share, for a total transaction of $207,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC purchased a new position in OncoSec Medical in the 2nd quarter valued at approximately $27,000. Citadel Advisors LLC purchased a new position in OncoSec Medical in the 2nd quarter valued at approximately $33,000. JPMorgan Chase & Co. purchased a new position in OncoSec Medical in the 2nd quarter valued at approximately $46,000. Worth Venture Partners LLC bought a new position in OncoSec Medical in the 2nd quarter valued at $99,000. Finally, Geode Capital Management LLC boosted its holdings in OncoSec Medical by 72.5% in the 4th quarter. Geode Capital Management LLC now owns 388,688 shares of the biotechnology company’s stock valued at $248,000 after purchasing an additional 163,405 shares during the period. Institutional investors and hedge funds own 5.83% of the company’s stock.

OncoSec Medical Company Profile

OncoSec Medical Incorporated, a biotechnology company, focuses on the development of cytokine-based intratumoral immunotherapies to stimulate the body's immune system to target and attack cancer. Its lead product candidate is ImmunoPulse IL-12 that uses electroporation device to deliver a DNA-encoded interleukin-12 for reversing the immunosuppressive microenvironment in the treated tumor.

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