Oncolytics Biotech (TSE:ONC) Share Price Crosses 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) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised Oncolytics Biotech to a "strong-buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Oncolytics Biotech presently has an average rating of "Buy" and a consensus price target of C$3.50.

Oncolytics Biotech Price Performance

The company has a market capitalization of C$1.50 billion, a price-to-earnings ratio of -40.27 and a beta of 0.80. 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 business has a 50-day moving average price of C$5.25 and a 200-day moving average price of C$2.35.

Insiders Place Their Bets

In related news, Senior Officer Jared Ryan Kelly bought 50,400 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was purchased at an average price of C$1.63 per share, with a total value of C$82,284.50. Also, Senior Officer Andrew P. Aromando acquired 25,500 shares of Oncolytics Biotech stock in a transaction dated Tuesday, July 15th. The stock was acquired at an average cost of C$1.62 per share, with a total value of C$41,425.92. Insiders purchased 108,300 shares of company stock valued at $178,192 over the last 90 days. 3.82% of the stock is currently owned by company 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.