Oncolytics Biotech (TSE:ONC) Stock Price Up 10.1% – Here’s Why

Shares of Oncolytics Biotech Inc. (TSE:ONC) shot up 10.1% during mid-day trading on Wednesday . The company traded as high as C$0.99 and last traded at C$0.98. 142,896 shares traded hands during trading, an increase of 24% from the average session volume of 115,398 shares. The stock had previously closed at C$0.89.

Wall Street Analysts Forecast Growth

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

Oncolytics Biotech Stock Performance

The firm’s fifty day moving average is C$0.70 and its 200 day moving average is C$0.94. The company has a debt-to-equity ratio of 11.75, a current ratio of 2.99 and a quick ratio of 8.86. The firm has a market capitalization of C$74.76 million, a price-to-earnings ratio of -2.70 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.