Oncolytics Biotech (NASDAQ:ONCY) Issues Earnings Results, Misses Expectations By $0.03 EPS

Oncolytics Biotech (NASDAQ:ONCY) issued its quarterly earnings data on Wednesday. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), Zacks reports.

Oncolytics Biotech Trading Down 1.9%

Shares of Oncolytics Biotech stock traded down $0.01 during mid-day trading on Friday, hitting $0.79. 251,784 shares of the stock were exchanged, compared to its average volume of 1,312,136. The stock has a market capitalization of $93.69 million, a price-to-earnings ratio of -2.31 and a beta of 1.13. Oncolytics Biotech has a twelve month low of $0.73 and a twelve month high of $1.51. The company has a 50-day simple moving average of $0.86 and a 200 day simple moving average of $0.93.

Institutional Trading of Oncolytics Biotech

A number of hedge funds have recently bought and sold shares of ONCY. Scientech Research LLC purchased a new stake in shares of Oncolytics Biotech in the third quarter valued at $25,000. Blair William & Co. IL purchased a new stake in Oncolytics Biotech in the 4th quarter valued at about $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Oncolytics Biotech during the 4th quarter valued at about $29,000. CIBC Private Wealth Group LLC purchased a new position in shares of Oncolytics Biotech during the 4th quarter worth about $44,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Oncolytics Biotech in the fourth quarter worth approximately $63,000. Institutional investors and hedge funds own 6.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ONCY shares. HC Wainwright restated a “buy” rating on shares of Oncolytics Biotech in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Oncolytics Biotech Company Profile

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.