Oncolytics Biotech (NASDAQ:ONCY) Stock Price Up 3.2% – Here’s Why

Oncolytics Biotech Inc. (NASDAQ:ONCY) shares shot up 3.2% during mid-day trading on Friday . The stock traded as high as $0.96 and last traded at $0.96. 263,496 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 256,898 shares. The stock had previously closed at $0.93.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Oncolytics Biotech in a research note on Thursday, November 14th. Raymond James upgraded shares of Oncolytics Biotech to a “moderate buy” rating in a research report on Thursday, November 14th. Finally, Leede Financial downgraded Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, November 13th.

Oncolytics Biotech Trading Up 3.2 %

The company has a market capitalization of $74.35 million, a P/E ratio of -3.56 and a beta of 1.29. The business has a 50 day moving average price of $0.97 and a 200 day moving average price of $1.01.

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.