Oncolytics Biotech (NASDAQ:ONCY) Shares Down 2.1% – Here’s What Happened

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on ONCY shares. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of Oncolytics Biotech in a report on Thursday, November 14th. Raymond James upgraded Oncolytics Biotech to a “moderate buy” rating in a report on Thursday, November 14th. Finally, Leede Financial cut Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, November 13th.

Oncolytics Biotech Price Performance

The company’s 50-day simple moving average is $1.09 and its 200-day simple moving average is $1.03. The stock has a market capitalization of $64.41 million, a price-to-earnings ratio of -3.10 and a beta of 1.63.

Oncolytics Biotech Company Profile

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.