Oncolytics Biotech (NASDAQ:ONCY) Announces Quarterly Earnings Results

Oncolytics Biotech (NASDAQ:ONCY) posted its 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 Trading Down 0.5%

Shares of ONCY stock traded down $0.00 during trading hours on Friday, hitting $0.37. 1,261,555 shares of the company were exchanged, compared to its average volume of 1,255,228. The business has a 50 day moving average of $0.59 and a two-hundred day moving average of $0.83. Oncolytics Biotech has a 52 week low of $0.34 and a 52 week high of $1.30. The company has a market capitalization of $48.51 million, a PE ratio of -1.09 and a beta of 1.26.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. HC Wainwright dropped their price objective on Oncolytics Biotech to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Oncolytics Biotech currently has a consensus rating of “Hold” and a consensus 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.