Oncolytics Biotech (NASDAQ:ONCY) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Oncolytics Biotech (NASDAQ:ONCY) issued its quarterly earnings results on Wednesday. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), Zacks reports.

Oncolytics Biotech Trading Up 0.5%

Shares of Oncolytics Biotech stock traded up $0.00 on Wednesday, reaching $0.82. 699,429 shares of the stock were exchanged, compared to its average volume of 1,324,595. The firm has a market capitalization of $98.31 million, a PE ratio of -2.66 and a beta of 1.13. Oncolytics Biotech has a 1-year low of $0.73 and a 1-year high of $1.51. The business has a fifty day moving average price of $0.86 and a two-hundred day moving average price of $0.93.

Hedge Funds Weigh In On Oncolytics Biotech

A number of large investors have recently modified their holdings of the business. Scientech Research LLC purchased a new stake in shares of Oncolytics Biotech in the third quarter valued at approximately $25,000. Blair William & Co. IL purchased a new position in Oncolytics Biotech in the fourth quarter worth $28,000. Security National Bank of Sioux City Iowa IA acquired a new stake in Oncolytics Biotech in the fourth quarter valued at $29,000. CIBC Private Wealth Group LLC acquired a new stake in Oncolytics Biotech in the fourth quarter valued at $44,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Oncolytics Biotech during the 4th quarter worth $63,000. 6.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating on shares of Oncolytics Biotech in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Oncolytics Biotech currently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc (NASDAQ: ONCY) is a clinical-stage biotechnology company focused on the development of novel oncolytic viral therapies for the treatment of cancer. The company’s lead investigational agent, pelareorep (Reolysin), is a proprietary formulation of reovirus engineered to selectively infect and destroy tumor cells while stimulating a systemic antitumor immune response. Oncolytics leverages the natural biology of the virus to enhance the activity of standard‐of‐care treatments and immune checkpoint inhibitors.

Pelareorep has progressed into multiple advanced clinical trials, with combination studies conducted in metastatic breast cancer, non‐small cell lung cancer and head and neck cancers.