Short Interest in Oncolytics Biotech, Inc. (NASDAQ:ONCY) Rises By 245.6%
Oncolytics Biotech, Inc. (NASDAQ:ONCY) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 599,600 shares, an increase of 245.6% from the July 31st total of 173,500 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 153,100 shares, the short-interest ratio is presently 3.9 days.
A hedge fund recently bought a new stake in Oncolytics Biotech stock. Verition Fund Management LLC bought a new position in shares of Oncolytics Biotech, Inc. (NASDAQ:ONCY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned about 2.01% of Oncolytics Biotech at the end of the most recent quarter. Institutional investors and hedge funds own 2.32% of the company’s stock.
A number of research firms have issued reports on ONCY. Roth Capital started coverage on Oncolytics Biotech in a report on Wednesday, September 4th. They set a “buy” rating and a $7.00 target price for the company. Zacks Investment Research downgraded Oncolytics Biotech from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, ValuEngine lowered Oncolytics Biotech from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Oncolytics Biotech currently has an average rating of “Buy” and an average price target of $4.50.
Oncolytics Biotech (NASDAQ:ONCY) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.19) earnings per share for the quarter. Sell-side analysts expect that Oncolytics Biotech will post -0.92 EPS for the current year.
Oncolytics Biotech Company Profile
Oncolytics Biotech Inc, a development stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing REOLYSIN, an immuno-oncology viral-agent that comprises three programs: chemotherapy combinations to trigger selective tumor lysis; immune modulator combinations to facilitate innate immune responses; and immuno-therapy combinations to produce adaptive immune responses.
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