Oncolytics Biotech (NASDAQ:ONCY) Stock Price Down 2.1% – Here’s Why

Oncolytics Biotech Inc. (NASDAQ:ONCY) shares traded down 2.1% during trading on Thursday . The company traded as low as $0.82 and last traded at $0.84. 403,606 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 328,857 shares. The stock had previously closed at $0.85.

Analysts Set New Price Targets

ONCY has been the topic of a number of research reports. Leede Financial downgraded Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, November 13th. Raymond James upgraded Oncolytics Biotech to a “moderate buy” rating in a research report on Thursday, November 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Oncolytics Biotech in a research report on Thursday, November 14th.

Oncolytics Biotech Stock Down 2.6 %

The stock has a market cap of $62.71 million, a PE ratio of -3.01 and a beta of 1.63. The company has a fifty day moving average price of $1.08 and a 200 day moving average price of $1.02.

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.