Oncolytics Biotech (NASDAQ:ONCY) Trading Up 16.1% – What’s Next?

Oncolytics Biotech Inc. (NASDAQ:ONCY) shot up 16.1% during trading on Thursday . The company traded as high as $0.97 and last traded at $0.92. Approximately 2,195,041 shares traded hands during mid-day trading, an increase of 116% from the average session volume of 1,016,877 shares. The stock had previously closed at $0.7923.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings lowered Oncolytics Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 25th. Wall Street Zen lowered shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Oncolytics Biotech in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Oncolytics Biotech has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Oncolytics Biotech Trading Up 16.1%

The stock has a market capitalization of $109.80 million, a PE ratio of -2.97 and a beta of 1.09. The firm has a 50-day moving average price of $0.89 and a 200-day moving average price of $0.96.

Oncolytics Biotech (NASDAQ:ONCY) last released its earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Sell-side analysts expect that Oncolytics Biotech Inc. will post -0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Scientech Research LLC bought a new position in shares of Oncolytics Biotech in the third quarter worth $25,000. Blair William & Co. IL purchased a new position in shares of Oncolytics Biotech in the fourth quarter valued at $28,000. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Oncolytics Biotech during the 4th quarter valued at $29,000. Ground Swell Capital LLC bought a new stake in shares of Oncolytics Biotech during the 4th quarter valued at $30,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Oncolytics Biotech during the 4th quarter worth about $44,000. 6.82% of the stock is owned by institutional investors.

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.