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

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

Oncolytics Biotech Trading Up 0.2%

NASDAQ:ONCY traded up $0.00 on Thursday, hitting $0.87. The company had a trading volume of 749,441 shares, compared to its average volume of 1,244,824. The stock has a market capitalization of $101.37 million, a price-to-earnings ratio of -3.01 and a beta of 1.02. The firm has a 50 day moving average of $0.97 and a two-hundred day moving average of $1.00. Oncolytics Biotech has a 52 week low of $0.33 and a 52 week high of $1.51.

Hedge Funds Weigh In On Oncolytics Biotech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Oncolytics Biotech in the 4th quarter valued at approximately $68,000. XTX Topco Ltd acquired a new position in Oncolytics Biotech in the 4th quarter valued at approximately $69,000. Blair William & Co. IL acquired a new position in Oncolytics Biotech in the 4th quarter valued at approximately $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in Oncolytics Biotech in the 4th quarter valued at approximately $29,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Oncolytics Biotech in the 4th quarter valued at approximately $63,000. Institutional investors own 6.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Oncolytics Biotech from a “strong sell” rating to a “hold” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.50.

About Oncolytics Biotech

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.