Oncolytics Biotech (NASDAQ:ONCY) Director Buys $10,300.00 in Stock

Oncolytics Biotech Inc. (NASDAQ:ONCY) Director James Parsons bought 10,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $1.03 per share, with a total value of $10,300.00. Following the completion of the acquisition, the director owned 41,849 shares in the company, valued at $43,104.47. This represents a 31.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Oncolytics Biotech Price Performance

Shares of ONCY stock opened at $0.98 on Monday. The stock’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $1.08. The firm has a market cap of $104.45 million, a price-to-earnings ratio of -3.51 and a beta of 0.92. Oncolytics Biotech Inc. has a one year low of $0.33 and a one year high of $1.51.

Institutional Trading of Oncolytics Biotech

A number of hedge funds and other institutional investors have recently made changes to their positions in ONCY. Citadel Advisors LLC bought a new position in shares of Oncolytics Biotech in the third quarter valued at about $535,000. Connective Capital Management LLC bought a new stake in Oncolytics Biotech during the 4th quarter worth about $131,000. XTX Topco Ltd acquired a new stake in Oncolytics Biotech in the 4th quarter valued at about $69,000. Virtu Financial LLC acquired a new stake in Oncolytics Biotech in the 4th quarter valued at about $68,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Oncolytics Biotech in the fourth quarter worth about $63,000. 6.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ONCY has been the topic of several analyst reports. HC Wainwright upped 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. Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Oncolytics Biotech presently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

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.