Company Update (NASDAQ:ONCY): Oncolytics Biotech, Inc. (USA) Announces Voting Results from its Annual Meeting of Shareholders
Oncolytics Biotech, Inc. (USA) (NASDAQ:ONCY) announced the voting results from its Annual Meeting of Shareholders held on Monday June 8th, 2015. A total of 41.19% of the issued and outstanding common shares of the Company were represented either in person or by proxy at the meeting.
In addition to the election of all nominees listed in the management information circular dated May 6, 2015 as directors, as disclosed in the press release dated June 9, 2015, Oncolytics shareholders approved all other resolutions placed before the meeting (all voting conducted by ballot with the exception of the resolution on the appointment of auditors). These included: fixing the number of directors to be elected at the meeting at 10; appointing Ernst & Young, LLP as auditors of the corporation; amendments to the stock option plan to increase the number of shares reserved for issuance; and adoption of an incentive share award plan. (Original Source)
Shares of Oncolytics Biotech closed today at $0.5992, up $0.0091 or 1.54%. ONCY has a 1-year high of $1.69 and a 1-year low of $0.40. The stock’s 50-day moving average is $0.70 and its 200-day moving average is $0.66.
On the ratings front, Oncolytics has been the subject of a number of recent research reports. In a report issued on June 8, Canaccord Genuity analyst Neil Maruoka maintained a Buy rating on ONCY, with a price target of $2.50, which implies an upside of 317.2% from current levels. Separately, on March 18, Needham’s Chad Messer reiterated a Buy rating on the stock and has a price target of $1.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Neil Maruoka and Chad Messer have a total average return of 17.1% and 4.0% respectively. Maruoka has a success rate of 73.3% and is ranked #544 out of 3623 analysts, while Messer has a success rate of 44.0% and is ranked #1341.
Oncolytics Biotech Inc is a development stage biopharmaceutical company. It is engaged in the discovery and development of pharmaceutical products for the treatment of cancer.