Oncolytics Biotech (TSE:ONC) Trading 2.9% Higher – Here’s Why

Oncolytics Biotech Inc. (TSE:ONC)’s share price rose 2.9% during mid-day trading on Thursday . The company traded as high as C$1.08 and last traded at C$1.05. Approximately 258,089 shares were traded during trading, an increase of 79% from the average daily volume of 144,119 shares. The stock had previously closed at C$1.02.

Analyst Upgrades and Downgrades

Separately, Raymond James raised shares of Oncolytics Biotech to a “moderate buy” rating in a research note on Thursday, November 14th.

Oncolytics Biotech Price Performance

The stock has a market cap of C$88.39 million, a PE ratio of -3.03 and a beta of 1.35. The business has a fifty day simple moving average of C$1.23 and a two-hundred day simple moving average of C$1.36. The company has a current ratio of 4.99, a quick ratio of 8.86 and a debt-to-equity ratio of 6.09.

Oncolytics Biotech (TSE:ONC) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.11) by C($0.01). During the same period in the prior year, the firm earned ($0.14) earnings per share. Research analysts forecast that Oncolytics Biotech Inc. will post -0.41 earnings per share for the current year.

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.