In an abbreviated trading session on Tuesday, OncoSec Medical (OTC:ONCS) eked out a gain of over a penny to close at $0.236. Volume for the shortened day, however, resembled an active full day for the shares of the drug medical device company as over 3 million shares exchanged hands. Over the last three months, the stock on an average day will trade nearly 900,000 shares, with the past seven trading sessions experiencing higher-than-normal trading activity.
The day began right where the stock closed yesterday at $0.22. Volume in the first thirty minutes was subdued showing little indication of an active trading day. As the clock struck ten on the east coast, the pace of trading accelerated with nearly a third of the day’s volume recorded in the second full hour. Price followed suit, jumping from the opening price to an intraday high of $0.2479 before retreating a bit at the closing bell. The stock ended the day up 7.3%.
One reason for the interest today may be related to an article appearing on Seeking Alpha this morning that highlighted the medical market for the treatment of melanoma. The author talked positively about small cap stocks in the space and specifically mentioned OncoSec.
OncoSec is a drug and medical device company that focuses on developing and commercializing therapies for the treatment of solid cancers. The San Diego, California, company presently uses two types of propietory therapeutic modules: ElectroImmunotherapy and ElectroChemotherapy. No similar technology currently exists in the treatment of solid tumors.
After the close today, a note by Stock Wizards found on Stockreads.com put OncoSec on their “watch list”.
In an email alert on June 25, 2012, The Stock Professor promoted the stock. The letter touted that the company was just beginning to stretch its legs. On the same day, Free Superstocks touted the stock as their number one pick. Neither site was compensated for their opinions. The messages and more promotions for OncoSec Medical can be located on Stockpromoters.com.
In a tweet today, Vista Partners mentioned that Oncosec was discussed in their July Macroeconomic Newsletter.
Since tumbling from its 52-week high of $1.05 at the beginning of February, to an annual low of 12 cents this spring, the stock for the most part has remained as flat as the Kansas farmland. Several rally attempts lasting a handful of days have always ended with the stock being pushed back to the floor.
Traders will have tomorrow to decipher the recent action in the shares of OncoSec. Come Thursday morning, they will have to decide whether this rally is for real or not.
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