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Hot Stock: Oncothyreon, Shares Gain 6.7% (ONTY)

Published on Wed, 01/09/2013 - 13:22
By Adrienne Chilton

Oncothyreon (NASDAQ:ONTY) is one of today's best performing low-priced stocks, up 6.7% to $2.22 on 1.2x average daily volume. Thus far today, Oncothyreon has traded 2.8 million shares, vs. average volume of 2.4 million shares per day. The stock has outperformed the Dow (6.7% to the Dow's 0.4%) and outperformed the S&P 500 (6.7% to the S&P's 0.2%) during today's trading.

There is potential upside of 140.3% for shares of Oncothyreon based on a current price of $2.22 and an average consensus analyst price target of $5.33. The stock should run into initial resistance at its 50-day moving average (MA) of $3.96 and subsequent resistance at its 200-day MA of $4.37.

Oncothyreon Inc. is a biotechnology company that develops therapeutic approaches to cancer management. The Company focuses on the development of synthetic vaccines and strategies for immunotherapy of cancer.

In the past 52 weeks, Oncothyreon share prices have been bracketed by a low of $1.71 and a high of $11.59 and are now at $2.22, 30% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 4.5%.

By Adrienne Chilton