Oncolytics Biotech (NASDAQ:ONCY) Stock Price Down 5.3% - Here's Why

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report) dropped 5.3% during mid-day trading on Thursday . The stock traded as low as $1.16 and last traded at $1.24. Approximately 769,648 shares were traded during trading, an increase of 147% from the average daily volume of 311,317 shares. The stock had previously closed at $1.31.

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Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and set a $5.00 price objective on shares of Oncolytics Biotech in a research report on Thursday, September 19th.

Check Out Our Latest Research Report on Oncolytics Biotech

Oncolytics Biotech Stock Down 5.3 %

The business has a fifty day moving average of $0.98 and a 200 day moving average of $1.04. The firm has a market cap of $94.63 million, a P/E ratio of -4.13 and a beta of 1.79.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. During the same quarter last year, the company earned ($0.09) earnings per share. Research analysts expect that Oncolytics Biotech Inc. will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Oncolytics Biotech

A hedge fund recently bought a new stake in Oncolytics Biotech stock. Virtu Financial LLC acquired a new position in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 51,889 shares of the company's stock, valued at approximately $55,000. Virtu Financial LLC owned approximately 0.07% of Oncolytics Biotech at the end of the most recent reporting period. 6.82% of the stock is currently owned by hedge funds and other institutional investors.

About Oncolytics Biotech

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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.

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