Brokerages Set Oncolytics Biotech Inc. (NASDAQ:ONCY) PT at $6.25

Oncolytics Biotech Inc. (NASDAQ:ONCY) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.25.

ONCY has been the subject of several recent research 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 cut Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright increased their target price on Oncolytics Biotech from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday, December 29th.

Insiders Place Their Bets

In other news, Director Bernd R. Seizinger acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The stock was purchased at an average price of $1.04 per share, for a total transaction of $104,000.00. Following the completion of the acquisition, the director owned 466,991 shares in the company, valued at $485,670.64. This trade represents a 27.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is owned by insiders.

Institutional Trading of Oncolytics Biotech

Hedge funds have recently added to or reduced their stakes in the business. Scientech Research LLC bought a new position in Oncolytics Biotech during the third quarter worth about $25,000. Seeds Investor LLC raised its position in shares of Oncolytics Biotech by 17.8% during the second quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock worth $173,000 after purchasing an additional 33,826 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Oncolytics Biotech during the third quarter worth about $535,000. Institutional investors and hedge funds own 6.82% of the company’s stock.

Oncolytics Biotech Trading Up 2.7%

Oncolytics Biotech stock opened at $1.16 on Wednesday. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.51. The company’s 50-day moving average is $1.00 and its two-hundred day moving average is $1.09. The company has a market cap of $123.13 million, a PE ratio of -4.14 and a beta of 0.97.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Research analysts forecast that Oncolytics Biotech will post -0.28 EPS for the current 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.