Insider Buying: Oncolytics Biotech (NASDAQ:ONCY) CEO Purchases 29,500 Shares of Stock

Oncolytics Biotech Inc. (NASDAQ:ONCY) CEO Jared Kelly bought 29,500 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $0.84 per share, with a total value of $24,780.00. Following the purchase, the chief executive officer owned 109,000 shares of the company’s stock, valued at $91,560. The trade was a 37.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Jared Kelly also recently made the following trade(s):

• On Wednesday, February 11th, Jared Kelly purchased 5,600 shares of Oncolytics Biotech stock. The shares were acquired at an average price of $0.84 per share, with a total value of $4,704.00.

Oncolytics Biotech Trading Down 2.2%

Shares of NASDAQ:ONCY opened at $0.83 on Friday. The business has a 50-day moving average price of $0.98 and a 200 day moving average price of $1.07. The company has a market capitalization of $88.60 million, a price-to-earnings ratio of -2.98 and a beta of 0.99. Oncolytics Biotech Inc. has a 12-month low of $0.33 and a 12-month high of $1.51.

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

Wall Street Analyst Weigh In

ONCY has been the topic of several recent analyst reports. Zacks Research upgraded shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Monday, December 29th. HC Wainwright raised their price target 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, Wall Street Zen downgraded Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Oncolytics Biotech has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Institutional Investors Weigh In On Oncolytics Biotech

A number of hedge funds have recently added to or reduced their stakes in ONCY. Citadel Advisors LLC acquired a new position in shares of Oncolytics Biotech in the third quarter worth $535,000. Seeds Investor LLC boosted its holdings in Oncolytics Biotech by 17.8% in the second 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 during the period. Tocqueville Asset Management L.P. acquired a new position in Oncolytics Biotech during the 4th quarter worth $63,000. CIBC Private Wealth Group LLC purchased a new stake in Oncolytics Biotech during the 4th quarter worth about $44,000. Finally, Ground Swell Capital LLC purchased a new stake in Oncolytics Biotech during the 4th quarter worth about $30,000. 6.82% of the stock is currently owned by institutional investors and hedge funds.

About Oncolytics Biotech

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.