Oncolytics Biotech (NASDAQ:ONCY) Shares Up 3.8% - Time to Buy?

Key Points

• Oncolytics Biotech's stock price rose by 3.8%, closing at $1.09, despite a significant drop in trading volume compared to its average.
• Analysts show a mixed sentiment with one hold rating and three buy ratings, resulting in an average target price of $4.33 for the stock.
• The company recently reported earnings that exceeded expectations, with an EPS of ($0.06), better than the anticipated ($0.09).

Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report)'s stock price rose 3.8% on Monday . The company traded as high as $1.10 and last traded at $1.09. Approximately 537,272 shares were traded during trading, a decline of 62% from the average daily volume of 1,429,237 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

ONCY has been the topic of several recent research reports. HC Wainwright reiterated a "buy" rating and issued a $5.00 price objective on shares of Oncolytics Biotech in a research report on Wednesday, May 21st. Jones Trading reiterated a "hold" rating on shares of Oncolytics Biotech in a research note on Friday, May 16th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $4.33.

Oncolytics Biotech Price Performance

The firm has a 50 day simple moving average of $0.79 and a 200-day simple moving average of $0.69. The stock has a market capitalization of $99.85 million, a price-to-earnings ratio of -3.53 and a beta of 1.07.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.03. On average, sell-side analysts forecast that Oncolytics Biotech Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. National Bank of Canada FI raised its position in Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 199.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 64,479 shares of the company's stock after acquiring an additional 42,955 shares during the period. National Bank of Canada FI owned about 0.08% of Oncolytics Biotech worth $60,000 as of its most recent filing with the SEC. 6.82% of the stock is owned by hedge funds and other institutional investors.

Oncolytics Biotech Company Profile

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.