Oncolytics Biotech (TSE:ONC) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Oncolytics Biotech's stock has surged above its 200-day moving average, trading at C$14.90 with a market cap of C$1.50 billion.
• Recent analyst ratings show mixed opinions, with one firm downgrading the stock to a "hold" while another raised it to a "strong-buy," resulting in a consensus target price of C$3.50.
• Insider buying activity includes significant acquisitions, with Senior Officer Jared Ryan Kelly purchasing 50,400 shares at an average price of C$1.63, reflecting confidence in the company's prospects.

Oncolytics Biotech Inc. (TSE:ONC - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$1.96 and traded as high as C$14.90. Oncolytics Biotech shares last traded at C$14.90, with a volume of 280 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on ONC shares. Jones Trading lowered Oncolytics Biotech from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. Lake Street Capital raised Oncolytics Biotech to a "strong-buy" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$3.50.

Oncolytics Biotech Trading Down 1.3%

The business has a 50-day moving average price of C$4.98 and a two-hundred day moving average price of C$2.24. 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 company has a market cap of C$1.50 billion, a P/E ratio of -40.27 and a beta of 0.80.

Insiders Place Their Bets

In related news, Senior Officer Jared Ryan Kelly bought 50,400 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were acquired at an average price of C$1.63 per share, for a total transaction of C$82,284.50. Also, Senior Officer Andrew P. Aromando bought 25,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were acquired at an average cost of C$1.62 per share, for a total transaction of C$41,425.92. In the last 90 days, insiders acquired 108,300 shares of company stock valued at $178,192. Company 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.