Oncolytics Biotech Inc. (NASDAQ:ONCY – Get Rating) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 151,900 shares, a growth of 25.4% from the March 15th total of 121,100 shares. Based on an average daily volume of 347,600 shares, the short-interest ratio is currently 0.4 days.
Hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC raised its holdings in shares of Oncolytics Biotech by 71.3% during the third quarter. LPL Financial LLC now owns 20,489 shares of the company’s stock valued at $43,000 after acquiring an additional 8,529 shares during the period. Long Focus Capital Management LLC acquired a new stake in shares of Oncolytics Biotech during the fourth quarter valued at approximately $56,000. UBS Group AG increased its stake in Oncolytics Biotech by 29.5% in the 3rd quarter. UBS Group AG now owns 26,790 shares of the company’s stock valued at $56,000 after buying an additional 6,101 shares during the period. Dimensional Fund Advisors LP acquired a new position in Oncolytics Biotech in the 3rd quarter valued at approximately $70,000. Finally, Geode Capital Management LLC increased its stake in Oncolytics Biotech by 41.2% in the 3rd quarter. Geode Capital Management LLC now owns 34,659 shares of the company’s stock valued at $72,000 after buying an additional 10,114 shares during the period. 1.87% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:ONCY opened at $1.44 on Tuesday. The company has a 50 day moving average of $1.65 and a 200-day moving average of $1.74. The firm has a market cap of $82.24 million, a P/E ratio of -3.69 and a beta of 2.33. Oncolytics Biotech has a twelve month low of $1.25 and a twelve month high of $3.21.
Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of Oncolytics Biotech from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Canaccord Genuity Group dropped their target price on shares of Oncolytics Biotech from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, January 27th. Zacks Investment Research downgraded shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research report on Wednesday, March 9th. Leede Jones Gab reaffirmed a “speculative buy” rating on shares of Oncolytics Biotech in a research report on Friday, March 4th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Oncolytics Biotech in a research report on Monday, March 7th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Oncolytics Biotech currently has an average rating of “Buy” and an average price target of $7.25.
About Oncolytics Biotech (Get Rating)
Oncolytics Biotech Inc, a development-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. Its lead product is pelareorep, an intravenously delivered immunotherapeutic agent for the treatment of solid tumors and hematological malignancies.
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