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

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

Oncolytics Biotech Price Performance

Shares of NASDAQ ONCY traded up $0.01 during trading hours on Wednesday, hitting $0.86. 115,630 shares of the company’s stock were exchanged, compared to its average volume of 1,326,303. The company’s 50-day moving average price is $1.00 and its 200-day moving average price is $1.06. Oncolytics Biotech has a 1-year low of $0.33 and a 1-year high of $1.51. The stock has a market capitalization of $91.61 million, a price-to-earnings ratio of -3.08 and a beta of 0.92.

Insider Activity at Oncolytics Biotech

In related news, Director Patricia S. Andrews purchased 35,400 shares of Oncolytics Biotech stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $0.86 per share, with a total value of $30,444.00. Following the acquisition, the director directly owned 78,128 shares in the company, valued at approximately $67,190.08. This trade represents a 82.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bernd R. Seizinger acquired 40,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were bought at an average cost of $0.85 per share, with a total value of $34,000.00. Following the transaction, the director directly owned 566,991 shares of the company’s stock, valued at $481,942.35. The trade was a 7.59% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 404,282 shares of company stock worth $363,232. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ONCY. Scientech Research LLC acquired a new stake in shares of Oncolytics Biotech during the third quarter worth approximately $25,000. Blair William & Co. IL bought a new stake in Oncolytics Biotech during the 4th quarter worth approximately $28,000. Security National Bank of Sioux City Iowa IA bought a new stake in Oncolytics Biotech during the 4th quarter worth approximately $29,000. CIBC Private Wealth Group LLC acquired a new stake in Oncolytics Biotech during the 4th quarter valued at $44,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Oncolytics Biotech during the 4th quarter valued at $63,000. 6.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.