Oncolytics Biotech (NASDAQ:ONCY) Earns “Buy” Rating from HC Wainwright

Oncolytics Biotech (NASDAQ:ONCY)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $5.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. Jones Trading reissued a “hold” rating on shares of Oncolytics Biotech in a research note on Friday, May 16th. Maxim Group reduced their price objective on Oncolytics Biotech from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Royal Bank of Canada reduced their price objective on Oncolytics Biotech from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.33.

Oncolytics Biotech Stock Performance

Shares of NASDAQ ONCY opened at $0.40 on Wednesday. The company has a market cap of $34.73 million, a P/E ratio of -1.49 and a beta of 1.00. The firm’s fifty day moving average is $0.55 and its two-hundred day moving average is $0.74. Oncolytics Biotech has a 52-week low of $0.40 and a 52-week high of $1.53.

Oncolytics Biotech (NASDAQ:ONCY) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. As a group, analysts forecast that Oncolytics Biotech will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Oncolytics Biotech

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Oncolytics Biotech by 59.6% during the fourth quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock valued at $61,000 after buying an additional 24,997 shares during the period. National Bank of Canada FI boosted its position in shares of Oncolytics Biotech by 199.6% during the fourth quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock valued at $60,000 after buying an additional 42,955 shares during the period. Virtu Financial LLC purchased a new position in shares of Oncolytics Biotech during the fourth quarter valued at approximately $90,000. Finally, Vantage Point Financial LLC purchased a new position in shares of Oncolytics Biotech during the fourth quarter valued at approximately $27,000. 6.82% of the stock is owned by institutional investors.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.