Oncolytics Biotech (TSE:ONC) Shares Up 24.1% - What's Next?

Oncolytics Biotech Inc. (TSE:ONC - Get Free Report) shares shot up 24.1% during mid-day trading on Wednesday . The stock traded as high as C$1.72 and last traded at C$1.70. 892,106 shares changed hands during mid-day trading, an increase of 556% from the average session volume of 135,968 shares. The stock had previously closed at C$1.37.

Analyst Ratings Changes

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

Oncolytics Biotech Trading Down 5.3%

The business has a 50-day moving average price of C$0.78 and a two-hundred day moving average price of C$0.93. The stock has a market capitalization of C$124.09 million, a P/E ratio of -4.49 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.

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.