HC Wainwright Reiterates Buy Rating for Oncolytics Biotech (NASDAQ:ONCY)

Oncolytics Biotech (NASDAQ:ONCY)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock.

ONCY has been the topic of a number of other reports. Wall Street Zen downgraded Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Oncolytics Biotech Price Performance

ONCY stock opened at $0.81 on Tuesday. The company has a market cap of $96.61 million, a P/E ratio of -2.61 and a beta of 1.02. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.51. The stock’s fifty day moving average price is $0.94 and its 200-day moving average price is $0.98.

Oncolytics Biotech (NASDAQ:ONCY) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). As a group, analysts expect that Oncolytics Biotech will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Oncolytics Biotech

A number of institutional investors have recently bought and sold shares of ONCY. Citadel Advisors LLC bought a new position in Oncolytics Biotech in the 3rd quarter worth $535,000. Scientech Research LLC bought a new position in Oncolytics Biotech in the 3rd quarter worth $25,000. Ground Swell Capital LLC bought a new position in Oncolytics Biotech in the 4th quarter worth $30,000. CIBC Private Wealth Group LLC bought a new position in Oncolytics Biotech in the 4th quarter worth $44,000. Finally, Tocqueville Asset Management L.P. bought a new position in Oncolytics Biotech in the 4th quarter worth $63,000. 6.82% of the stock is owned by institutional investors.

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.