Oncolytics Biotech (NASDAQ:ONCY) Trading 0.2% Higher – Here’s What Happened

Oncolytics Biotech Inc. (NASDAQ:ONCY)’s stock price was up 0.2% during mid-day trading on Thursday . The stock traded as high as $0.7660 and last traded at $0.7530. 995,781 shares changed hands during trading, a decline of 36% from the average daily volume of 1,559,754 shares. The stock had previously closed at $0.7516.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ONCY shares. HC Wainwright reissued a “buy” rating on shares of Oncolytics Biotech in a research note on Tuesday, July 14th. Wall Street Zen lowered Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings upgraded Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.50.

Oncolytics Biotech Stock Performance

The firm’s 50-day simple moving average is $0.88 and its 200 day simple moving average is $0.94. The company has a market cap of $89.91 million, a P/E ratio of -2.43 and a beta of 1.09.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). As a group, research analysts forecast that Oncolytics Biotech Inc. will post -0.25 earnings per share for the current year.

Institutional Trading of Oncolytics Biotech

A number of hedge funds have recently modified their holdings of ONCY. Scientech Research LLC bought a new stake in shares of Oncolytics Biotech in the third quarter worth about $25,000. PFG Investments LLC boosted its holdings in Oncolytics Biotech by 131.0% during the first quarter. PFG Investments LLC now owns 52,900 shares of the company’s stock worth $45,000 after purchasing an additional 30,000 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth about $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in Oncolytics Biotech during the fourth quarter valued at approximately $29,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Oncolytics Biotech in the 4th quarter valued at approximately $30,000. 6.82% of the stock is currently owned by institutional investors and hedge funds.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc (NASDAQ: ONCY) is a clinical-stage biotechnology company focused on the development of novel oncolytic viral therapies for the treatment of cancer. The company’s lead investigational agent, pelareorep (Reolysin), is a proprietary formulation of reovirus engineered to selectively infect and destroy tumor cells while stimulating a systemic antitumor immune response. Oncolytics leverages the natural biology of the virus to enhance the activity of standard‐of‐care treatments and immune checkpoint inhibitors.

Pelareorep has progressed into multiple advanced clinical trials, with combination studies conducted in metastatic breast cancer, non‐small cell lung cancer and head and neck cancers.