Increase in Short Interest for Oncolytics Biotech Inc. (NASDAQ:ONCY)

Oncolytics Biotech Inc. (NASDAQ:ONCY) experienced a notable rise in short interest during January. As of January 31st, 2023, the total short interest reached 3,550,000 shares, marking a substantial increase of 35.0% compared to the 2,630,000 shares recorded on January 15th. With an average daily trading volume of 1,170,000 shares, the stock currently has a days-to-cover ratio of 3.0 days.

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Performance of Oncolytics Biotech Stock

During trading on Friday, shares of ONCY were down $0.00, settling at $0.77. There was a trading volume of 263,905 shares, which is below the average trading volume of 2,672,717 shares. Oncolytics Biotech's market capitalization stands at $61.39 million, with a price-to-earnings (P/E) ratio of -2.84 and a beta of 1.24. The stock has a 50-day moving average price of $0.83 and a 200-day moving average price of $0.96. Over the past year, Oncolytics Biotech has witnessed a low of $0.67 and a high of $1.53.

Changes in Analyst Ratings

Recent commentary from equity analysts has influenced the outlook on Oncolytics Biotech shares. Raymond James upgraded the company to a "moderate buy" rating in a report released on November 14th, while HC Wainwright maintained a "buy" rating and set a target price of $5.00 in a research report dated February 3rd. Additionally, Leede Financial downgraded Oncolytics Biotech from a "strong-buy" rating to a "moderate buy" rating in a report dated November 13th.

Latest Stock Report on ONCY

Institutional Investor Activity

Various institutional investors have adjusted their positions in Oncolytics Biotech recently. International Assets Investment Management LLC increased its holdings by 15.0% during the fourth quarter, now owning 200,400 shares valued at $186,000 after acquiring an additional 26,069 shares. Meanwhile, Virtu Financial LLC purchased a new stake in Oncolytics Biotech worth $90,000. Geode Capital Management LLC also amplified its stake by 59.6%, now holding 66,939 shares valued at $61,000 after buying an additional 24,997 shares in the last quarter. Moreover, National Bank of Canada FI raised its ownership by 199.6%, adding 42,955 shares to reach a total of 64,479 shares worth $60,000. Lastly, Vantage Point Financial LLC invested $27,000 in a new stake during the same quarter. Currently, institutional investors hold 6.82% of the stock.

Company Overview of Oncolytics Biotech

Oncolytics Biotech Inc. is a clinical-stage biopharmaceutical company focused on discovering and developing pharmaceutical products specifically for cancer treatment. One of the company's key developments is pelareorep, which is an intravenously delivered immunotherapeutic agent. This product is currently undergoing phase 3 clinical trials targeting hormone receptor-positive/human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.

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Investment Considerations

Before considering any investment in Oncolytics Biotech, it is advisable to review comprehensive analyses including stock performance and market trends. Understanding the implications of potential investments will provide better guidance in making informed decisions.

Oncolytics, Biotech, Stock