Oncolytics Biotech (TSE:ONC) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Oncolytics Biotech shares have surpassed their 200-day moving average, trading at C$1.39 after reaching a high of C$1.43, indicating positive market momentum.
• Analyst ratings show a mixed outlook, with one rating as a strong-buy and another as a hold, while the consensus remains a "Buy" with a price target of C$3.50.
• Insider buying activity reflects confidence, with senior officers purchasing a total of 108,300 shares valued at approximately C$178,192 in recent months.

Oncolytics Biotech Inc. (TSE:ONC - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$0.98 and traded as high as C$1.43. Oncolytics Biotech shares last traded at C$1.39, with a volume of 175,816 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ONC. Jones Trading lowered Oncolytics Biotech from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Lake Street Capital upgraded Oncolytics Biotech to a "strong-buy" rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of C$3.50.

Oncolytics Biotech Price Performance

The firm has a market cap of C$109.45 million, a price-to-earnings ratio of -3.96 and a beta of 1.35. The company has a current ratio of 2.99, a quick ratio of 8.86 and a debt-to-equity ratio of 11.75. The company has a 50 day moving average of C$1.32 and a 200 day moving average of C$0.99.

Insider Buying and Selling

In other Oncolytics Biotech news, Senior Officer Jared Ryan Kelly acquired 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, with a total value of C$82,284.50. Also, Senior Officer Thomas Heineman acquired 15,000 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The shares were acquired at an average cost of C$1.74 per share, for a total transaction of C$26,098.50. In the last quarter, insiders have acquired 108,300 shares of company stock valued at $178,192. 3.82% of the stock is owned by company insiders.

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.