Oncolytics Biotech (TSE:ONC) Shares Cross Above 200 Day Moving Average - Time to 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)'s stock price crossed 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.

Analyst Upgrades and Downgrades

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

Oncolytics Biotech Stock Down 6.3%

The firm has a market capitalization of C$90.95 million, a price-to-earnings ratio of -3.29 and a beta of 1.35. The stock has a fifty day moving average of C$1.17 and a two-hundred day moving average of C$0.97. The company has a debt-to-equity ratio of 11.75, a current ratio of 2.99 and a quick ratio of 8.86.

Insider Activity at Oncolytics Biotech

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 stock was acquired at an average cost of C$1.74 per share, for a total transaction of C$26,098.50. Also, Senior Officer Andrew P. Aromando acquired 25,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was bought at an average price of C$1.62 per share, with a total value of C$41,425.92. Insiders purchased 108,300 shares of company stock worth $178,192 over the last three months. Company insiders own 3.82% of the company's stock.

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.