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

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

Analyst Ratings Changes

ONCY has been the subject of several research analyst reports. Raymond James upgraded shares of Oncolytics Biotech to a “moderate buy” rating in a report on Thursday, November 14th. Leede Financial downgraded shares of Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Oncolytics Biotech in a report on Thursday, November 14th.

Oncolytics Biotech Stock Performance

The stock has a fifty day simple moving average of $1.09 and a two-hundred day simple moving average of $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.

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.