Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

ONCY has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Wall Street Zen lowered 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 stock a “buy” rating in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Monday, December 29th.

Insider Transactions at Oncolytics Biotech

In other Oncolytics Biotech news, Director Bernd R. Seizinger purchased 100,000 shares of the company’s stock in a transaction on Friday, January 16th. The shares were purchased at an average cost of $1.04 per share, with a total value of $104,000.00. Following the completion of the purchase, the director owned 466,991 shares in the company, valued at $485,670.64. This represents a 27.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.

Institutional Trading of Oncolytics Biotech

Hedge funds have recently modified their holdings of the stock. Scientech Research LLC bought a new position in Oncolytics Biotech during the third quarter worth $25,000. Seeds Investor LLC boosted its position in shares of Oncolytics Biotech by 17.8% during the 2nd quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock worth $173,000 after purchasing an additional 33,826 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Oncolytics Biotech during the 3rd quarter worth about $535,000. Institutional investors own 6.82% of the company’s stock.

Oncolytics Biotech Trading Down 2.4%

NASDAQ ONCY opened at $1.24 on Wednesday. The firm has a market capitalization of $131.63 million, a PE ratio of -4.43 and a beta of 0.97. The business’s 50-day moving average price is $1.00 and its two-hundred day moving average price is $1.09. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.51.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. As a group, analysts forecast 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.