Oncolytics Biotech, Inc. (NASDAQ:ONCY) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,560,000 shares, a drop of 10.3% from the January 15th total of 1,740,000 shares. Based on an average trading volume of 1,670,000 shares, the short-interest ratio is currently 0.9 days. Currently, 6.0% of the shares of the company are sold short.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONCY. Cedar Mountain Advisors LLC acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth approximately $27,000. Crescent Grove Advisors LLC acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth approximately $51,000. CIBC World Markets Inc. acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth approximately $82,000. Finally, Jane Street Group LLC acquired a new position in shares of Oncolytics Biotech during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 1.15% of the company’s stock.
A number of brokerages recently issued reports on ONCY. ValuEngine lowered Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Zacks Investment Research upgraded Oncolytics Biotech from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Saturday, November 16th. Finally, Roth Capital lifted their price objective on Oncolytics Biotech from $6.80 to $9.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd.
Oncolytics Biotech (NASDAQ:ONCY) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.07. As a group, research analysts expect that Oncolytics Biotech will post -0.74 EPS for the current year.
About Oncolytics Biotech
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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