Oncolytics Biotech Inc. (NASDAQ:ONCY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $6.25.

A number of research analysts have recently commented on ONCY shares. HC Wainwright upped their target price on Oncolytics Biotech from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday, December 29th. Wall Street Zen lowered Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Zacks Research upgraded Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th.

Insiders Place Their Bets

In related news, Director Bernd R. Seizinger acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was bought at an average price of $1.04 per share, for a total transaction of $104,000.00. Following the acquisition, the director directly owned 466,991 shares of the company’s stock, valued at $485,670.64. This represents a 27.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

Institutional Trading of Oncolytics Biotech

Several institutional investors and hedge funds have recently made changes to their positions in ONCY. Scientech Research LLC purchased a new stake in Oncolytics Biotech in the third quarter worth about $25,000. Seeds Investor LLC raised its holdings in shares of Oncolytics Biotech by 17.8% in the 2nd quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock valued at $173,000 after purchasing an additional 33,826 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Oncolytics Biotech in the 3rd quarter valued at about $535,000. 6.82% of the stock is currently owned by institutional investors.

Oncolytics Biotech Trading Down 2.0%

Oncolytics Biotech stock opened at $0.99 on Wednesday. Oncolytics Biotech has a 12-month low of $0.33 and a 12-month high of $1.51. The firm has a 50-day moving average price of $0.99 and a 200-day moving average price of $1.09. The firm has a market capitalization of $105.09 million, a PE ratio of -3.54 and a beta of 0.97.

Oncolytics Biotech (NASDAQ:ONCY) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. As a group, sell-side analysts predict that Oncolytics Biotech will post -0.28 earnings per share for the current fiscal year.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc (NASDAQ: ONCY) is a clinical-stage biotechnology company focused on the development of novel oncolytic viral therapies for the treatment of cancer. The company’s lead investigational agent, pelareorep (Reolysin), is a proprietary formulation of reovirus engineered to selectively infect and destroy tumor cells while stimulating a systemic antitumor immune response. Oncolytics leverages the natural biology of the virus to enhance the activity of standard‐of‐care treatments and immune checkpoint inhibitors.

Pelareorep has progressed into multiple advanced clinical trials, with combination studies conducted in metastatic breast cancer, non‐small cell lung cancer and head and neck cancers.