Oncolytics Biotech (NASDAQ:ONCY) Announces Earnings Results

Oncolytics Biotech (NASDAQ:ONCY) posted its quarterly earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02), Zacks reports.

Oncolytics Biotech Trading Up 5.0%

Shares of ONCY stock traded up $0.04 on Wednesday, reaching $0.89. The company had a trading volume of 157,887 shares, compared to its average volume of 1,327,262. The stock has a market cap of $94.58 million, a PE ratio of -3.14 and a beta of 0.92. The company has a 50-day moving average of $1.00 and a 200-day moving average of $1.06. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.51.

Insider Activity

In other news, Director Wayne Pisano acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $0.84 per share, for a total transaction of $25,200.00. Following the completion of the acquisition, the director owned 492,414 shares in the company, valued at $413,627.76. This trade represents a 6.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew Aromando bought 29,600 shares of the stock in a transaction on Wednesday, February 11th. The stock was purchased at an average cost of $0.86 per share, with a total value of $25,456.00. Following the purchase, the insider directly owned 55,100 shares of the company’s stock, valued at approximately $47,386. This represents a 116.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 404,282 shares of company stock worth $363,232 over the last quarter. 0.10% of the stock is owned by insiders.

Institutional Trading of Oncolytics Biotech

Large investors have recently made changes to their positions in the company. Scientech Research LLC acquired a new stake in Oncolytics Biotech during the 3rd quarter worth $25,000. Blair William & Co. IL acquired a new position in Oncolytics Biotech in the fourth quarter valued at about $28,000. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Oncolytics Biotech in the fourth quarter worth about $29,000. CIBC Private Wealth Group LLC bought a new stake in shares of Oncolytics Biotech in the fourth quarter worth about $44,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Oncolytics Biotech during the fourth quarter worth about $63,000. Institutional investors own 6.82% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

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.