Oncolytics Biotech Inc. [NASDAQ: ONCY] stock went on a downward path that fall over -12.13% on Friday, amounting to a one-week price decrease of less than -16.51%. The company report on March 5, 2021 that Oncolytics Biotech® Establishes New At-The-Market Facility.
— Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), currently developing pelareorep, an intravenously delivered immuno-oncolytic virus, announced that it has entered into an at-the-market (ATM) equity offering sales agreement with Canaccord Genuity LLC. The ATM allows the Company, at its sole discretion, to issue common shares from treasury, at prevailing market prices, with an aggregate gross sales amount of up to US$80 million. The company has no obligation to sell any shares pursuant to the ATM. The ATM provides Oncolytics the option to efficiently tap into the financial markets as needed to support ongoing business development activities and clinical trials, while bolstering management’s ability to negotiate potential business development agreements from a position of financial strength.
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In connection with the ATM, Oncolytics has filed a Prospectus Supplement with the Alberta Securities Commission and with the United States Securities and Exchange Commission, which supplements Oncolytics’ Canadian short form base shelf prospectus dated June 12, 2020, and Oncolytics’ shelf registration statement on Form F-10 declared effective on June 15, 2020 by the United States Securities and Exchange Commission. Sales of the ATM offering will only be conducted in the United States through NASDAQ or another exchange at market prices. No sales will be conducted in Canada or through the Toronto Stock Exchange.
Over the last 12 months, ONCY stock dropped by -3.25%.
The market cap for the stock reached $133.71 million, with 44.14 million shares outstanding and 42.76 million shares in the current float. Compared to the average trading volume of 1.85M shares, ONCY stock reached a trading volume of 2339934 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Oncolytics Biotech Inc. [ONCY]:
H.C. Wainwright have made an estimate for Oncolytics Biotech Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 17, 2021.
The Average True Range (ATR) for Oncolytics Biotech Inc. is set at 0.36 The Price to Book ratio for the last quarter was 6.09.
ONCY Stock Performance Analysis:
Oncolytics Biotech Inc. [ONCY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.51. With this latest performance, ONCY shares gained by 3.47% in over the last four-week period, additionally plugging by 58.58% over the last 6 months – not to mention a drop of -3.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONCY stock in for the last two-week period is set at 42.07, with the RSI for the last a single of trading hit 36.05, and the three-weeks RSI is set at 45.40 for Oncolytics Biotech Inc. [ONCY]. The present Moving Average for the last 50 days of trading for this stock 2.80, while it was recorded at 3.10 for the last single week of trading, and 2.28 for the last 200 days.
Insight into Oncolytics Biotech Inc. Fundamentals:
Return on Total Capital for ONCY is now -199.26, given the latest momentum, and Return on Invested Capital for the company is -180.30. Return on Equity for this stock declined to -182.63, with Return on Assets sitting at -83.35. When it comes to the capital structure of this company, Oncolytics Biotech Inc. [ONCY] has a Total Debt to Total Equity ratio set at 1.62. Additionally, ONCY Total Debt to Total Capital is recorded at 1.60, with Total Debt to Total Assets ending up at 1.17. Long-Term Debt to Equity for the company is recorded at 0.62, with the Long-Term Debt to Total Capital now at 0.61.
Oncolytics Biotech Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.50 and a Current Ratio set at 12.50.
Oncolytics Biotech Inc. [ONCY] Insider Position Details
There are presently around $3 million, or 2.50% of ONCY stock, in the hands of institutional investors. The top three institutional holders of ONCY stocks are: CREATIVE PLANNING with ownership of 180,000, which is approximately 5.882% of the company’s market cap and around 1.80% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 174,220 shares of the stock with an approximate value of $0.47 million in ONCY stocks shares; and TWO SIGMA ADVISERS, LP, currently with $0.34 million in ONCY stock with ownership of nearly 2.705% of the company’s market capitalization.
Positions in Oncolytics Biotech Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 17 institutional holders increased their position in Oncolytics Biotech Inc. [NASDAQ:ONCY] by around 441,056 shares. Additionally, 10 investors decreased positions by around 159,020 shares, while 15 investors held positions by with 475,553 shares. The mentioned changes placed institutional holdings at 1,075,629 shares, according to the latest SEC report filing. ONCY stock had 7 new institutional investments in for a total of 196,262 shares, while 6 institutional investors sold positions of 155,532 shares during the same period.