Short Interest in Oncolytics Biotech, Inc. (NASDAQ:ONCY) Rises By 245.6%

Oncolytics Biotech, Inc. (NASDAQ:ONCY) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 599,600 shares, an increase of 245.6% from the July 31st total of 173,500 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 153,100 shares, the short-interest ratio is presently 3.9 days.

A hedge fund recently bought a new stake in Oncolytics Biotech stock. Verition Fund Management LLC bought a new position in shares of Oncolytics Biotech, Inc. (NASDAQ:ONCY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned about 2.01% of Oncolytics Biotech at the end of the most recent quarter. Institutional investors and hedge funds own 2.32% of the company’s stock.

A number of research firms have issued reports on ONCY. Roth Capital started coverage on Oncolytics Biotech in a report on Wednesday, September 4th. They set a “buy” rating and a $7.00 target price for the company. Zacks Investment Research downgraded Oncolytics Biotech from a “buy” rating to a “hold” rating in a research note on Tuesday, July 9th. Finally, ValuEngine lowered Oncolytics Biotech from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Oncolytics Biotech currently has an average rating of “Buy” and an average price target of $4.50.

NASDAQ ONCY remained flat at $$0.71 during trading on Wednesday. The company’s stock had a trading volume of 131,674 shares, compared to its average volume of 120,771. Oncolytics Biotech has a 12-month low of $0.53 and a 12-month high of $5.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.21 and a quick ratio of 3.21. The company has a 50 day moving average price of $0.88 and a 200-day moving average price of $1.58. The firm has a market cap of $17.73 million, a P/E ratio of -0.87 and a beta of 2.23.

Oncolytics Biotech (NASDAQ:ONCY) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.19) earnings per share for the quarter. Sell-side analysts expect that Oncolytics Biotech will post -0.92 EPS for the current year.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc, a development stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing REOLYSIN, an immuno-oncology viral-agent that comprises three programs: chemotherapy combinations to trigger selective tumor lysis; immune modulator combinations to facilitate innate immune responses; and immuno-therapy combinations to produce adaptive immune responses.

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