Oncolytics Biotech (NASDAQ:ONCY) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

by · The Cerbat Gem

Oncolytics Biotech (NASDAQ:ONCY – Get Free Report) posted its earnings results on Thursday. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03), FiscalAI reports.

Oncolytics Biotech Stock Up 0.2%

ONCY traded up $0.00 during trading on Thursday, reaching $0.87. The company’s stock had a trading volume of 749,441 shares, compared to its average volume of 1,244,824. The company has a market cap of $101.37 million, a price-to-earnings ratio of -3.01 and a beta of 1.02. The firm has a fifty day simple moving average of $0.97 and a two-hundred day simple moving average of $1.00. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.51.

Analyst Ratings Changes

A number of research analysts have weighed in on ONCY shares. Wall Street Zen upgraded shares of Oncolytics Biotech from a “strong sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings raised shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Oncolytics Biotech presently has an average rating of “Moderate Buy” and a consensus target price of $8.50.

View Our Latest Report on Oncolytics Biotech

Institutional Investors Weigh In On Oncolytics Biotech

A number of hedge funds have recently modified their holdings of ONCY. Scientech Research LLC acquired a new position in Oncolytics Biotech in the 3rd quarter valued at about $25,000. Blair William & Co. IL purchased a new stake in shares of Oncolytics Biotech during the 4th quarter valued at approximately $28,000. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Oncolytics Biotech during the 4th quarter valued at approximately $29,000. CIBC Private Wealth Group LLC acquired a new position in Oncolytics Biotech in the fourth quarter valued at approximately $44,000. Finally, Tocqueville Asset Management L.P. purchased a new position in Oncolytics Biotech in the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 6.82% of the company’s stock.

About Oncolytics Biotech

(Get Free Report)

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.

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