Oncolytics Biotech (NASDAQ:ONCY) Shares Up 0.2% – Here’s What Happened

Oncolytics Biotech Inc. (NASDAQ:ONCY) shares traded up 0.2% on Thursday . The stock traded as high as $0.7660 and last traded at $0.7530. Approximately 995,781 shares traded hands during trading, a decline of 36% from the average daily volume of 1,559,754 shares. The stock had previously closed at $0.7516.

Wall Street Analysts Forecast Growth

ONCY has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. HC Wainwright reiterated a “buy” rating on shares of Oncolytics Biotech in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Oncolytics Biotech currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Oncolytics Biotech Stock Up 0.2%

The company has a market cap of $89.87 million, a price-to-earnings ratio of -2.43 and a beta of 1.09. The business has a fifty day simple moving average of $0.88 and a 200 day simple moving average of $0.94.

Oncolytics Biotech (NASDAQ:ONCY) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Equities analysts anticipate that Oncolytics Biotech Inc. will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Oncolytics Biotech

A number of institutional investors and hedge funds have recently modified their holdings of the company. Scientech Research LLC acquired a new position in Oncolytics Biotech during the third quarter worth $25,000. Blair William & Co. IL purchased a new position in shares of Oncolytics Biotech in the fourth quarter valued at $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth $29,000. Ground Swell Capital LLC acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth $30,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Oncolytics Biotech in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 6.82% of the company’s stock.

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.