Oncolytics Biotech (NASDAQ:ONCY) Director James Parsons Purchases 10,000 Shares

Oncolytics Biotech Inc. (NASDAQ:ONCY) Director James Parsons acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of $1.03 per share, with a total value of $10,300.00. Following the purchase, the director owned 41,849 shares of the company’s stock, valued at approximately $43,104.47. This trade represents a 31.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Oncolytics Biotech Stock Performance

Shares of Oncolytics Biotech stock opened at $0.98 on Friday. Oncolytics Biotech Inc. has a 52-week low of $0.33 and a 52-week high of $1.51. The company’s 50 day moving average price is $1.01 and its 200-day moving average price is $1.08. The stock has a market capitalization of $104.45 million, a price-to-earnings ratio of -3.51 and a beta of 0.92.

Hedge Funds Weigh In On Oncolytics Biotech

Large investors have recently modified their holdings of the stock. Citadel Advisors LLC purchased a new stake in Oncolytics Biotech during the 3rd quarter valued at about $535,000. Connective Capital Management LLC purchased a new position in Oncolytics Biotech in the fourth quarter worth about $131,000. XTX Topco Ltd purchased a new position in Oncolytics Biotech in the fourth quarter worth about $69,000. Virtu Financial LLC bought a new position in shares of Oncolytics Biotech in the fourth quarter worth approximately $68,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Oncolytics Biotech in the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 6.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. HC Wainwright increased their target price on shares of Oncolytics Biotech from $5.00 to $10.00 and gave the stock a “buy” rating in a 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.50.

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.