Oncolytics Biotech (NASDAQ:ONCY) Releases Earnings Results, Misses Estimates By $0.02 EPS

Oncolytics Biotech (NASDAQ:ONCY) announced its earnings results on Monday. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), Zacks reports.

Oncolytics Biotech Price Performance

NASDAQ ONCY traded up $0.01 during trading on Wednesday, reaching $0.86. 115,630 shares of the company’s stock were exchanged, compared to its average volume of 1,326,303. The business has a 50 day moving average price of $1.00 and a 200-day moving average price of $1.06. The stock has a market capitalization of $91.61 million, a P/E ratio of -3.08 and a beta of 0.92. Oncolytics Biotech has a fifty-two week low of $0.33 and a fifty-two week high of $1.51.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Oncolytics Biotech has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Insiders Place Their Bets

In other news, Director Patricia S. Andrews purchased 35,400 shares of Oncolytics Biotech stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $30,444.00. Following the purchase, the director directly owned 78,128 shares of the company’s stock, valued at $67,190.08. This trade represents a 82.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Aromando acquired 29,600 shares of the stock in a transaction on Wednesday, February 11th. The shares were purchased at an average price of $0.86 per share, for a total transaction of $25,456.00. Following the transaction, the insider directly owned 55,100 shares in the company, valued at approximately $47,386. This trade represents a 116.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 404,282 shares of company stock worth $363,232. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Oncolytics Biotech

Hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC acquired a new stake in Oncolytics Biotech in the 3rd quarter worth about $535,000. XTX Topco Ltd acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth approximately $69,000. Virtu Financial LLC bought a new position in shares of Oncolytics Biotech during the fourth quarter worth approximately $68,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Oncolytics Biotech in the fourth quarter valued at approximately $63,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Oncolytics Biotech in the fourth quarter valued at approximately $44,000. 6.82% of the stock is owned by institutional investors.

About Oncolytics Biotech

Oncolytics Biotech Inc (NASDAQ: ONCY) is a clinical-stage biotechnology company focused on the development of novel oncolytic viral therapies for the treatment of cancer. The company’s lead investigational agent, pelareorep (Reolysin), is a proprietary formulation of reovirus engineered to selectively infect and destroy tumor cells while stimulating a systemic antitumor immune response. Oncolytics leverages the natural biology of the virus to enhance the activity of standard?of?care treatments and immune checkpoint inhibitors.

Pelareorep has progressed into multiple advanced clinical trials, with combination studies conducted in metastatic breast cancer, non?small cell lung cancer and head and neck cancers.