Oncolytics Biotech (NASDAQ:ONCY) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Oncolytics Biotech (NASDAQ:ONCY) announced its quarterly earnings results on Wednesday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), Zacks reports.

Oncolytics Biotech Trading Up 0.5%

Shares of Oncolytics Biotech stock traded up $0.00 during trading hours on Wednesday, reaching $0.82. 699,429 shares of the company’s stock were exchanged, compared to its average volume of 1,324,595. The firm has a market capitalization of $98.31 million, a price-to-earnings ratio of -2.66 and a beta of 1.13. Oncolytics Biotech has a 52-week low of $0.73 and a 52-week high of $1.51. The company has a fifty day moving average of $0.86 and a 200-day moving average of $0.93.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Oncolytics Biotech

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in shares of Oncolytics Biotech in the 4th quarter worth $69,000. Citadel Advisors LLC purchased a new stake in Oncolytics Biotech during the third quarter valued at about $535,000. Virtu Financial LLC acquired a new stake in Oncolytics Biotech during the fourth quarter worth about $68,000. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Oncolytics Biotech in the 4th quarter worth about $29,000. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Oncolytics Biotech in the 4th quarter worth about $63,000. Institutional investors and hedge funds own 6.82% of the company’s stock.

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.