The backtest results show that ONCO had a 0% win rate at 3 and 10 days post-earnings beat, with negative returns of -5.69% and -15.64% respectively. However, by 30 days, the win rate improved to 50%, and the average return turned positive at 19.16%, peaking at 23.49% on day 20. This indicates a delayed positive market reaction to ONCO's earnings beats.

The initial negative short-term response suggests caution, but the significant recovery and gains by 30 days highlight potential medium-term opportunities.

Investors might consider holding ONCO for at least 20 days post-earnings beat to capture the eventual positive returns.

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The backtest results show that ONCO experienced negative returns following earnings misses, with a 3-day return of -6.11%, a 10-day return of -8.94%, and a 30-day return of -12.38%. The win rates were low, especially at 20% over 10 days, indicating a generally unfavorable price reaction. This suggests that earnings misses tend to have a sustained negative impact on ONCO's stock price. Investors should be cautious and consider the potential downside risk when ONCO reports earnings below expectations.

The backtest results show that the Biotechnology Industry experienced a negative impact following earnings beats, with a maximum return of only 0.18% on the event day. This suggests that despite positive earnings surprises, the sector does not exhibit strong positive price reactions in the tested period. The analysis indicates that earnings beats in this industry may not translate into significant short-term gains, possibly due to other overriding market factors or sector-specific risks. Investors should be cautious and consider that earnings beats alone may not be a reliable indicator for short-term investment decisions in the Biotechnology Industry.

The backtest results show that earnings misses in the Biotechnology Industry have no significant impact on stock returns, with a maximum return of only 0.02% observed. This negligible effect suggests that the market does not react strongly to earnings misses within this sector over the tested period.

The analysis indicates that investors may not need to adjust their positions based solely on earnings misses in Biotechnology stocks, as these events do not materially influence price movements.

Therefore, investment decisions should consider other factors beyond earnings misses when evaluating Biotechnology industry stocks.

Backtest ONCO Earning Beats Expectations

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