Oncolytics Biotech Inc. (NASDAQ:ONCY) Sees Large Decrease in Short Interest

Oncolytics Biotech Inc. (NASDAQ:ONCY) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 659,000 shares, a drop of 23.9% from the May 15th total of 866,100 shares. Based on an average daily volume of 217,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analyst Weigh In

ONCY has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Oncolytics Biotech in a research report on Tuesday, May 14th. Raymond James initiated coverage on shares of Oncolytics Biotech in a research report on Thursday, April 4th. They set an “outperform” rating and a $3.00 price target on the stock.

Oncolytics Biotech Stock Performance

Shares of Oncolytics Biotech stock traded down $0.01 on Friday, reaching $1.02. The company had a trading volume of 325,140 shares, compared to its average volume of 176,989. The firm’s 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.15. The firm has a market cap of $77.37 million, a PE ratio of -3.40 and a beta of 1.87. Oncolytics Biotech has a 52-week low of $0.88 and a 52-week high of $3.39.

Oncolytics Biotech (NASDAQ:ONCY) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. As a group, sell-side analysts predict that Oncolytics Biotech will post -0.29 EPS for the current year.

Institutional Investors Weigh In On Oncolytics Biotech

Several large investors have recently added to or reduced their stakes in ONCY. Ausdal Financial Partners Inc. increased its position in shares of Oncolytics Biotech by 50.0% in the 4th quarter. Ausdal Financial Partners Inc. now owns 30,000 shares of the company’s stock valued at $40,000 after purchasing an additional 10,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Oncolytics Biotech in the 1st quarter valued at approximately $55,000. International Assets Investment Management LLC increased its position in shares of Oncolytics Biotech by 33.9% in the 4th quarter. International Assets Investment Management LLC now owns 269,699 shares of the company’s stock valued at $364,000 after purchasing an additional 68,246 shares during the last quarter. Finally, Advisor Resource Council purchased a new stake in shares of Oncolytics Biotech in the 4th quarter valued at approximately $135,000. 6.82% of the stock is owned by hedge funds and other institutional investors.

Oncolytics Biotech Company Profile

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.