Oncolytics Biotech (TSE:ONC) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Oncolytics Biotech shares crossed above their two hundred day moving average, with the current price at C$1.32, compared to the average of C$0.97.
• Jones Trading downgraded Oncolytics Biotech from a "strong-buy" rating to a "hold" rating on May 16th.
• Insider transactions showed significant buying activity, with notable purchases including 25,500 shares by Senior Officer Andrew P. Aromando at C$1.62 each.

Oncolytics Biotech Inc. (TSE:ONC - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$0.97 and traded as high as C$1.38. Oncolytics Biotech shares last traded at C$1.32, with a volume of 650,401 shares changing hands.

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 Down 6.3%

The company has a quick ratio of 8.86, a current ratio of 2.99 and a debt-to-equity ratio of 11.75. The stock has a market capitalization of C$90.95 million, a PE ratio of -3.29 and a beta of 1.35. The firm's fifty day moving average is C$1.17 and its 200-day moving average is C$0.97.

Insider Activity

In related news, Senior Officer Thomas Heineman acquired 15,000 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The shares were purchased at an average price of C$1.74 per share, with a total value of C$26,098.50. Also, Senior Officer Andrew P. Aromando bought 25,500 shares of the stock in a transaction on Tuesday, July 15th. The shares were bought at an average price of C$1.62 per share, for a total transaction of C$41,425.92. Insiders purchased 108,300 shares of company stock worth $178,192 in the last 90 days. 3.82% of the stock is currently owned by corporate insiders.

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.