Oncolytics Biotech (NASDAQ:ONCY) Rating Lowered to Hold at Zacks Investment Research

Oncolytics Biotech (NASDAQ:ONCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Oncolytics Biotech, Inc. focuses on the discovery and development of pharmaceutical products for the treatment of a wide variety of human and companion pet cancers. The Company was formed to explore the oncolytic capability of the reovirus, a virus that preferentially replicates in cells with an activated Ras pathway, one of the most common family of genetic defects leading to cancer. “

A number of other analysts have also commented on the stock. ValuEngine lowered shares of Oncolytics Biotech from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Roth Capital initiated coverage on shares of Oncolytics Biotech in a research note on Wednesday, September 4th. They issued a “buy” rating and a $7.00 price target for the company.

Oncolytics Biotech stock traded down $0.04 during trading hours on Thursday, reaching $1.06. The stock had a trading volume of 632,400 shares, compared to its average volume of 203,859. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.21 and a quick ratio of 3.21. The stock has a market cap of $28.51 million, a PE ratio of -1.29 and a beta of 2.11. Oncolytics Biotech has a 52 week low of $0.35 and a 52 week high of $2.79. The company has a fifty day simple moving average of $0.67 and a 200-day simple moving average of $1.23.

Oncolytics Biotech (NASDAQ:ONCY) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.19) EPS for the quarter. Research analysts predict that Oncolytics Biotech will post -0.91 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Oncolytics Biotech stock. Verition Fund Management LLC purchased a new position in Oncolytics Biotech, Inc. (NASDAQ:ONCY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned 2.01% of Oncolytics Biotech as of its most recent SEC filing. Hedge funds and other institutional investors own 2.31% of the company’s stock.

About Oncolytics Biotech

Oncolytics Biotech Inc, a development stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing REOLYSIN, an immuno-oncology viral-agent that comprises three programs: chemotherapy combinations to trigger selective tumor lysis; immune modulator combinations to facilitate innate immune responses; and immuno-therapy combinations to produce adaptive immune responses.

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