Oncolytics Biotech (NASDAQ:ONCY) Announces Earnings Results

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

Oncolytics Biotech Stock Performance

Shares of NASDAQ:ONCY traded down $0.00 during midday trading on Friday, reaching $0.37. The company had a trading volume of 1,263,696 shares, compared to its average volume of 1,255,253. The company has a fifty day simple moving average of $0.59 and a two-hundred day simple moving average of $0.83. The firm has a market cap of $48.51 million, a price-to-earnings ratio of -1.09 and a beta of 1.26. Oncolytics Biotech has a 1-year low of $0.34 and a 1-year high of $1.30.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ONCY. Weiss Ratings raised shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. HC Wainwright reduced their target price on shares of Oncolytics Biotech to $5.00 and set a “buy” rating for the company in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Oncolytics Biotech Company Profile

Oncolytics Biotech is a clinical-stage biotechnology company developing cancer immunotherapies. Its lead product candidate, pelareorep, is an investigational virus-based therapy intended to activate the immune system against cancer. The company is studying pelareorep in combination with other treatments, including chemotherapy and immunotherapies, for cancers such as breast cancer and pancreatic cancer. Pelareorep is not an approved treatment. Based in Canada, Oncolytics conducts clinical development through research and trials involving patients and collaborators in multiple regions.