Oncolytics Biotech (TSE:ONC) Shares Up 24.1% - Here's What Happened

Oncolytics Biotech Inc. (TSE:ONC - Get Free Report) traded up 24.1% on Wednesday . The company traded as high as C$1.72 and last traded at C$1.70. 892,106 shares were traded 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 Upgrades and Downgrades

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

Oncolytics Biotech Stock Performance

The stock has a market cap of C$123.32 million, a PE ratio of -4.46 and a beta of 1.35. The stock has a fifty day simple moving average of C$0.82 and a two-hundred day simple moving average of C$0.94. The company has a debt-to-equity ratio of 11.75, a quick ratio of 8.86 and a current ratio of 2.99.

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.