Oncolytics Biotech (NASDAQ:ONCY) Stock Price Down 3.1% - Time to Sell?

Key Points

• Shares of Oncolytics Biotech Inc. (NASDAQ: ONCY) fell by 3.1%, trading between $1.22 and $1.24, with a notable decline in trading volume by 22% compared to the average daily volume.
• Equities analysts rated Oncolytics Biotech with an average of "Moderate Buy" and set a consensus price target of $5.00, with some analysts giving target prices as high as $7.00.
• Oncolytics Biotech reported a quarterly EPS of ($0.05), exceeding estimates, while institutional investors boosted their positions in the company, leading to them owning 6.82% of the stock.

Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report) fell 3.1% on Monday . The company traded as low as $1.22 and last traded at $1.24. 904,219 shares were traded during mid-day trading, a decline of 22% from the average session volume of 1,158,127 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ONCY. Wall Street Zen raised Oncolytics Biotech from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Lake Street Capital began coverage on Oncolytics Biotech in a report on Wednesday, August 13th. They issued a "buy" rating and a $7.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $5.00.

Oncolytics Biotech Price Performance

The firm has a market cap of $136.49 million, a PE ratio of -5.04 and a beta of 1.19. The stock has a 50-day moving average price of $1.11 and a 200 day moving average price of $0.77.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. As a group, equities research analysts anticipate that Oncolytics Biotech Inc. will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. Seeds Investor LLC raised its position in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 223,767 shares of the company's stock after acquiring an additional 33,826 shares during the period. Seeds Investor LLC owned approximately 0.23% of Oncolytics Biotech worth $173,000 at the end of the most recent reporting period. 6.82% of the stock is owned by hedge funds and other institutional investors.

About Oncolytics Biotech

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.