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

Shares of Oncolytics Biotech Inc. (TSE:ONC - Get Free Report) traded up 24.1% during trading on Tuesday . 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.

Analysts Set New Price Targets

Separately, Jones Trading cut 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 company's fifty day moving average is C$0.78 and its two-hundred day moving average is C$0.93. 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 stock has a market cap of C$124.09 million, a price-to-earnings ratio of -4.49 and a beta of 1.35.

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.