Oncolytics Biotech (TSE:ONC) Stock Price Down 9.3% – Here’s Why

Oncolytics Biotech Inc. (TSE:ONC) was down 9.3% during mid-day trading on Friday . The stock traded as low as C$0.98 and last traded at C$0.98. Approximately 103,958 shares changed hands during trading, a decline of 15% from the average daily volume of 123,015 shares. The stock had previously closed at C$1.08.

Wall Street Analysts Forecast Growth

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

Oncolytics Biotech Price Performance

The firm’s 50-day moving average price is C$1.13 and its 200-day moving average price is C$1.31. The company has a current ratio of 2.99, a quick ratio of 8.86 and a debt-to-equity ratio of 11.75. The stock has a market capitalization of C$76.30 million, a PE ratio of -2.76 and a beta of 1.35.

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.