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

Oncolytics Biotech Inc. (NASDAQ:ONCY) was the recipient of a large decline in short interest in February. As of February 15th, there was short interest totalling 3,050,000 shares, a decline of 14.1% from the January 31st total of 3,550,000 shares. Based on an average trading volume of 1,150,000 shares, the short-interest ratio is presently 2.7 days.

Wall Street Analysts Forecast Growth

ONCY has been the topic of a number of recent research reports. Leede Financial downgraded shares of Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, November 13th. Raymond James upgraded shares of Oncolytics Biotech to a “moderate buy” rating in a research note on Thursday, November 14th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Oncolytics Biotech in a research note on Monday, February 3rd.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in Oncolytics Biotech by 59.6% in the 4th quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock valued at $61,000 after purchasing an additional 24,997 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Oncolytics Biotech by 15.0% during the 4th quarter. International Assets Investment Management LLC now owns 200,400 shares of the company’s stock worth $186,000 after acquiring an additional 26,069 shares during the last quarter. Vantage Point Financial LLC bought a new stake in Oncolytics Biotech in the 4th quarter valued at $27,000. National Bank of Canada FI lifted its holdings in Oncolytics Biotech by 199.6% during the 4th quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock valued at $60,000 after purchasing an additional 42,955 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Oncolytics Biotech during the fourth quarter worth $90,000. 6.82% of the stock is currently owned by institutional investors and hedge funds.

Oncolytics Biotech Stock Down 2.0 %

Shares of NASDAQ ONCY traded down $0.01 during trading hours on Thursday, hitting $0.72. The company had a trading volume of 211,962 shares, compared to its average volume of 1,422,453. The firm’s 50 day moving average is $0.80 and its 200-day moving average is $0.94. Oncolytics Biotech has a 1-year low of $0.60 and a 1-year high of $1.53. The stock has a market capitalization of $61.82 million, a P/E ratio of -2.68 and a beta of 1.18.

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.