Oncolytics Biotech (TSE:ONC) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Oncolytics Biotech's shares have recently crossed above the 200-day moving average of C$1.35, currently trading at C$18.00.
• Analyst ratings are mixed, with one firm upgrading the stock to a "strong-buy" while another downgraded it to a "hold," reflecting uncertainty in investor sentiment.
• Insider transactions indicate confidence in the company, with senior officers purchasing a total of 108,300 shares in the last ninety days.

Shares of Oncolytics Biotech Inc. (TSE:ONC - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$1.35 and traded as high as C$18.00. Oncolytics Biotech shares last traded at C$18.00, with a volume of 2 shares trading hands.

Analyst Upgrades and Downgrades

ONC has been the subject of a number of analyst reports. Lake Street Capital raised Oncolytics Biotech to a "strong-buy" rating in a research report on Wednesday, August 13th. Jones Trading downgraded Oncolytics Biotech from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Oncolytics Biotech has an average rating of "Buy" and an average price target of C$3.50.

Oncolytics Biotech Trading Down 3.2%

The firm has a 50 day simple moving average of C$2.38 and a 200 day simple moving average of C$1.35. The company has a current ratio of 2.99, a quick ratio of 8.86 and a debt-to-equity ratio of 11.75. The firm has a market capitalization of C$1.81 billion, a PE ratio of -48.65 and a beta of 0.80.

Insider Transactions at Oncolytics Biotech

In other news, Senior Officer Andrew P. Aromando purchased 25,500 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were purchased at an average cost of C$1.62 per share, for a total transaction of C$41,425.92. Also, Senior Officer Jared Ryan Kelly purchased 50,400 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was purchased at an average price of C$1.63 per share, for a total transaction of C$82,284.50. Insiders have bought a total of 108,300 shares of company stock worth $178,192 in the last ninety days. Insiders own 3.82% 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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