Oncolytics Biotech (NASDAQ:ONCY) Releases Earnings Results, Misses Expectations By $0.02 EPS

Oncolytics Biotech (NASDAQ:ONCY) issued its quarterly earnings data on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02), Zacks reports.

Oncolytics Biotech Stock Performance

Shares of ONCY traded up $0.02 during midday trading on Wednesday, hitting $0.86. 135,001 shares of the stock were exchanged, compared to its average volume of 1,326,657. Oncolytics Biotech has a 52-week low of $0.33 and a 52-week high of $1.51. The stock has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $1.06. The firm has a market cap of $91.71 million, a P/E ratio of -3.09 and a beta of 0.92.

Insider Transactions at Oncolytics Biotech

In related news, Director Bernd R. Seizinger acquired 40,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were acquired at an average price of $0.85 per share, with a total value of $34,000.00. Following the completion of the transaction, the director owned 566,991 shares of the company’s stock, valued at $481,942.35. The trade was a 7.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Aromando acquired 29,600 shares of Oncolytics Biotech stock in a transaction dated Wednesday, February 11th. The stock was bought at an average price of $0.86 per share, for a total transaction of $25,456.00. Following the completion of the purchase, the insider owned 55,100 shares of the company’s stock, valued at approximately $47,386. This represents a 116.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 404,282 shares of company stock worth $363,232 over the last quarter. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oncolytics Biotech

Several large investors have recently bought and sold shares of ONCY. Citadel Advisors LLC purchased a new stake in shares of Oncolytics Biotech during the 3rd quarter worth approximately $535,000. XTX Topco Ltd purchased a new position in shares of Oncolytics Biotech in the 4th quarter valued at $69,000. Virtu Financial LLC purchased a new position in shares of Oncolytics Biotech in the 4th quarter valued at $68,000. Tocqueville Asset Management L.P. acquired a new stake in Oncolytics Biotech during the 4th quarter worth $63,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Oncolytics Biotech during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 6.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncolytics Biotech in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

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.