Oncolytics Biotech (NASDAQ:ONCY) Trading Down 3.1% - Should You Sell?

Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report)'s stock price traded down 3.1% during mid-day trading on Thursday . The company traded as low as $1.23 and last traded at $1.24. 920,187 shares were traded during trading, a decline of 12% from the average session volume of 1,042,169 shares. The stock had previously closed at $1.28.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Oncolytics Biotech from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Oncolytics Biotech in a research note on Wednesday. Finally, Lake Street Capital initiated coverage on shares of Oncolytics Biotech in a research note on Wednesday, August 13th. They issued a "buy" rating and a $7.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Oncolytics Biotech presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.00.

Oncolytics Biotech Trading Down 3.1%

The stock has a market cap of $124.45 million, a P/E ratio of -4.59 and a beta of 1.24. The firm's fifty day moving average is $1.16 and its 200 day moving average is $0.84.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Research analysts forecast that Oncolytics Biotech Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Oncolytics Biotech stock. Seeds Investor LLC raised its stake in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 17.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 223,767 shares of the company's stock after purchasing an additional 33,826 shares during the quarter. Seeds Investor LLC owned 0.23% of Oncolytics Biotech worth $173,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 6.82% of the company's stock.

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.

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