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

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

Oncolytics Biotech Stock Performance

Shares of Oncolytics Biotech stock traded down $0.01 during trading hours on Thursday, reaching $0.81. The company’s stock had a trading volume of 343,799 shares, compared to its average volume of 1,318,146. The company’s 50 day simple moving average is $0.86 and its 200 day simple moving average is $0.93. The stock has a market cap of $97.27 million, a P/E ratio of -2.61 and a beta of 1.13. Oncolytics Biotech has a one year low of $0.73 and a one year high of $1.51.

Analyst Ratings Changes

ONCY has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. Wall Street Zen lowered Oncolytics Biotech from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating on shares of Oncolytics Biotech in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Hedge Funds Weigh In On Oncolytics Biotech

A number of institutional investors and hedge funds have recently bought and sold shares of ONCY. Virtu Financial LLC acquired a new position in shares of Oncolytics Biotech during the 4th quarter valued at $68,000. XTX Topco Ltd bought a new position in shares of Oncolytics Biotech in the fourth quarter valued at $69,000. Blair William & Co. IL bought a new stake in shares of Oncolytics Biotech during the 4th quarter worth $28,000. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Oncolytics Biotech during the fourth quarter valued at $29,000. Finally, Tocqueville Asset Management L.P. purchased a new position in Oncolytics Biotech in the 4th quarter worth about $63,000. Institutional investors own 6.82% of the company’s stock.

About Oncolytics Biotech

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.