Oncolytics Biotech (NASDAQ:ONCY) Announces Earnings Results

Oncolytics Biotech (NASDAQ:ONCY) issued its quarterly earnings results on Friday. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03), FiscalAI reports.

Oncolytics Biotech Price Performance

ONCY stock traded down $0.00 during mid-day trading on Friday, reaching $0.37. The company had a trading volume of 1,263,696 shares, compared to its average volume of 979,165. The company has a market capitalization of $48.51 million, a price-to-earnings ratio of -1.09 and a beta of 1.26. Oncolytics Biotech has a 52 week low of $0.34 and a 52 week high of $1.30. The stock has a 50 day simple moving average of $0.58 and a two-hundred day simple moving average of $0.83.

Analyst Upgrades and Downgrades

ONCY has been the subject of a number of analyst reports. HC Wainwright decreased their target price on shares of Oncolytics Biotech to $5.00 and set a “buy” rating for the company in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Oncolytics Biotech has a consensus rating of “Hold” and an average target price of $5.00.

About Oncolytics Biotech

Oncolytics Biotech is a clinical-stage biotechnology company developing cancer immunotherapies. Its lead product candidate, pelareorep, is an investigational virus-based therapy intended to activate the immune system against cancer. The company is studying pelareorep in combination with other treatments, including chemotherapy and immunotherapies, for cancers such as breast cancer and pancreatic cancer. Pelareorep is not an approved treatment. Based in Canada, Oncolytics conducts clinical development through research and trials involving patients and collaborators in multiple regions.