Oncolytics Biotech (TSE:ONC) Stock Price Up 14.5% – Here’s What Happened

Shares of Oncolytics Biotech Inc. (TSE:ONC) rose 14.5% during trading on Thursday . The stock traded as high as C$1.26 and last traded at C$1.26. Approximately 243,945 shares traded hands during mid-day trading, an increase of 230% from the average daily volume of 73,919 shares. The stock had previously closed at C$1.10.

Wall Street Analysts Forecast Growth

Separately, Raymond James upgraded shares of Oncolytics Biotech to a “moderate buy” rating in a research note on Thursday, November 14th.

Oncolytics Biotech Trading Up 16.4 %

The stock has a market cap of C$98.38 million, a P/E ratio of -3.37 and a beta of 1.35. The business’s 50 day simple moving average is C$1.47 and its 200 day simple moving average is C$1.41. The company has a debt-to-equity ratio of 6.09, a current ratio of 4.99 and a quick ratio of 8.86.

About Oncolytics Biotech

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.