Oncolytics Biotech (NASDAQ:ONCY) Trading 3.2% Higher – Should You Buy?

Oncolytics Biotech Inc. (NASDAQ:ONCY)’s stock price traded up 3.2% during mid-day trading on Friday . The company traded as high as $0.96 and last traded at $0.96. 263,496 shares traded hands during trading, an increase of 3% from the average session volume of 256,898 shares. The stock had previously closed at $0.93.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ONCY shares. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Oncolytics Biotech in a research note on Thursday, November 14th. Leede Financial cut shares of Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, November 13th. Finally, Raymond James upgraded Oncolytics Biotech to a “moderate buy” rating in a research note on Thursday, November 14th.

Oncolytics Biotech Price Performance

The firm has a 50 day simple moving average of $0.97 and a 200-day simple moving average of $1.01. The stock has a market capitalization of $74.35 million, a price-to-earnings ratio of -3.56 and a beta of 1.29.

Oncolytics Biotech Company Profile

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.