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

Oncolytics Biotech (NASDAQ:ONCY) issued its earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03), FiscalAI reports.

Oncolytics Biotech Stock Performance

Shares of NASDAQ:ONCY traded down $0.02 on Friday, reaching $0.85. The company’s stock had a trading volume of 846,252 shares, compared to its average volume of 1,247,146. Oncolytics Biotech has a 52-week low of $0.33 and a 52-week high of $1.51. The company has a 50-day simple moving average of $0.97 and a 200 day simple moving average of $1.00. The company has a market cap of $98.71 million, a P/E ratio of -2.74 and a beta of 1.02.

Institutional Investors Weigh In On Oncolytics Biotech

Several institutional investors have recently modified their holdings of the stock. Scientech Research LLC bought a new position in shares of Oncolytics Biotech during the 3rd quarter valued at approximately $25,000. Blair William & Co. IL bought a new stake in Oncolytics Biotech in the fourth quarter worth $28,000. Security National Bank of Sioux City Iowa IA purchased a new position in Oncolytics Biotech during the fourth quarter worth $29,000. CIBC Private Wealth Group LLC purchased a new position in Oncolytics Biotech during the fourth quarter worth $44,000. Finally, Tocqueville Asset Management L.P. bought a new position in Oncolytics Biotech during the fourth quarter valued at $63,000. 6.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ONCY. Weiss Ratings upgraded shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 8th. Wall Street Zen lowered shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.50.

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.