Oncolytics Biotech (TSE:ONC) Shares Up 24.1% - Here's What Happened

Oncolytics Biotech Inc. (TSE:ONC - Get Free Report)'s stock price shot up 24.1% during trading on Wednesday . The company traded as high as C$1.72 and last traded at C$1.70. 892,106 shares were traded during mid-day trading, an increase of 556% from the average session volume of 135,968 shares. The stock had previously closed at C$1.37.

Analyst Upgrades and Downgrades

Separately, Jones Trading downgraded shares of Oncolytics Biotech from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th.

Oncolytics Biotech Stock Performance

The stock's 50-day moving average price is C$0.81 and its 200-day moving average price is C$0.94. The company has a debt-to-equity ratio of 11.75, a quick ratio of 8.86 and a current ratio of 2.99. The company has a market capitalization of C$123.32 million, a price-to-earnings ratio of -4.46 and a beta of 1.35.

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.