Oncolytics Biotech (NASDAQ:ONCY) Director Bernd Seizinger Buys 100,000 Shares

Oncolytics Biotech Inc. (NASDAQ:ONCY) Director Bernd Seizinger purchased 100,000 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were bought at an average cost of $1.04 per share, for a total transaction of $104,000.00. Following the acquisition, the director owned 466,991 shares of the company’s stock, valued at approximately $485,670.64. The trade was a 27.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Oncolytics Biotech Stock Down 2.0%

ONCY opened at $0.99 on Wednesday. Oncolytics Biotech Inc. has a 52 week low of $0.33 and a 52 week high of $1.51. The business has a 50 day moving average price of $0.99 and a two-hundred day moving average price of $1.09. The company has a market cap of $105.09 million, a PE ratio of -3.54 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ONCY shares. Wall Street Zen downgraded shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. HC Wainwright lifted their price objective on Oncolytics Biotech from $5.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 17th. Zacks Research upgraded Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Institutional Inflows and Outflows

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

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.