Oncolytics Biotech (NASDAQ:ONCY) Trading Up 8%

Shares of Oncolytics Biotech, Inc. (NASDAQ:ONCY) were up 8% on Wednesday . The company traded as high as $3.17 and last traded at $3.10, approximately 1,711,359 shares traded hands during trading. A decline of 25% from the average daily volume of 2,281,996 shares. The stock had previously closed at $2.87.

Several analysts recently weighed in on the stock. ValuEngine raised shares of Oncolytics Biotech from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Oncolytics Biotech from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a research note on Saturday, November 16th. Finally, Roth Capital boosted their price target on shares of Oncolytics Biotech from $6.80 to $9.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd.

The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.78 and a current ratio of 3.78. The company’s 50-day moving average price is $2.39 and its 200-day moving average price is $1.30. The firm has a market capitalization of $82.78 million, a PE ratio of -3.78 and a beta of 3.01.

Oncolytics Biotech (NASDAQ:ONCY) last posted its earnings results on Tuesday, November 12th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.07. As a group, analysts anticipate that Oncolytics Biotech, Inc. will post -0.74 earnings per share for the current year.

An institutional investor recently bought a new position in Oncolytics Biotech stock. Verition Fund Management LLC acquired a new stake in Oncolytics Biotech, Inc. (NASDAQ:ONCY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned about 2.01% of Oncolytics Biotech as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 1.59% of the company’s stock.

About Oncolytics Biotech (NASDAQ:ONCY)

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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