Oncolytics Biotech (NASDAQ:ONCY) Stock Price Up 1.9%

Oncolytics Biotech Inc. (NASDAQ:ONCY)’s share price was up 1.9% during trading on Thursday . The stock traded as high as $1.12 and last traded at $1.08. Approximately 302,083 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 369,111 shares. The stock had previously closed at $1.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ONCY shares. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Oncolytics Biotech in a research note on Wednesday, February 14th. Raymond James began coverage on Oncolytics Biotech in a research report on Thursday, April 4th. They set an “outperform” rating and a $3.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Oncolytics Biotech in a research report on Friday, January 12th.

Oncolytics Biotech Stock Performance

The business has a 50 day moving average price of $1.06 and a 200-day moving average price of $1.28.

Oncolytics Biotech (NASDAQ:ONCY) last issued its earnings results on Thursday, March 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. As a group, research analysts anticipate that Oncolytics Biotech Inc. will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On Oncolytics Biotech

Hedge funds have recently bought and sold shares of the company. Ausdal Financial Partners Inc. increased its stake in Oncolytics Biotech by 50.0% in the 4th quarter. Ausdal Financial Partners Inc. now owns 30,000 shares of the company’s stock valued at $40,000 after purchasing an additional 10,000 shares in the last quarter. Advisor Resource Council purchased a new position in Oncolytics Biotech in the 4th quarter valued at approximately $135,000. Finally, International Assets Investment Management LLC increased its stake in Oncolytics Biotech by 33.9% in the 4th quarter. International Assets Investment Management LLC now owns 269,699 shares of the company’s stock valued at $364,000 after purchasing an additional 68,246 shares in the last quarter. 6.82% of the stock is owned by hedge funds and other institutional investors.

About Oncolytics Biotech

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.