Oncolytics Biotech (NASDAQ:ONCY) Posts Earnings Results, Misses Estimates By $0.03 EPS

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

Oncolytics Biotech Stock Performance

Oncolytics Biotech stock traded down $0.00 during trading hours on Friday, reaching $0.37. 1,261,555 shares of the company’s stock traded hands, compared to its average volume of 1,255,228. Oncolytics Biotech has a fifty-two week low of $0.34 and a fifty-two week high of $1.30. The firm has a market capitalization of $48.51 million, a price-to-earnings ratio of -1.09 and a beta of 1.26. The firm’s 50 day moving average is $0.59 and its 200-day moving average is $0.83.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ONCY. HC Wainwright decreased their price objective on Oncolytics Biotech to $5.00 and set a “buy” rating on the stock in a report on Wednesday, August 19th. Weiss Ratings raised Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Oncolytics Biotech presently has a consensus rating of “Hold” and an average target price 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.