Oncolytics Biotech (NASDAQ:ONCY) Director Buys $104,000.00 in Stock

Oncolytics Biotech Inc. (NASDAQ:ONCY) Director Bernd Seizinger bought 100,000 shares of the stock in a transaction dated Friday, January 16th. The shares were purchased at an average price of $1.04 per share, with a total value of $104,000.00. Following the completion of the transaction, the director directly owned 466,991 shares in the company, valued at approximately $485,670.64. The trade was a 27.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Oncolytics Biotech Stock Performance

ONCY stock traded down $0.02 during midday trading on Tuesday, reaching $0.99. 1,002,290 shares of the company traded hands, compared to its average volume of 880,481. The firm has a market capitalization of $105.15 million, a price-to-earnings ratio of -3.54 and a beta of 0.97. Oncolytics Biotech Inc. has a 52-week low of $0.33 and a 52-week high of $1.51. The business has a 50 day moving average of $0.99 and a 200-day moving average of $1.09.

Oncolytics Biotech (NASDAQ:ONCY) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Research analysts anticipate that Oncolytics Biotech Inc. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncolytics Biotech in a research report on Monday, December 29th. Wall Street Zen lowered Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. HC Wainwright upped their target price on Oncolytics Biotech from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Zacks Research upgraded Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ONCY. Scientech Research LLC acquired a new position in Oncolytics Biotech in the third quarter valued at about $25,000. Seeds Investor LLC raised its stake in shares of Oncolytics Biotech by 17.8% in the 2nd quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock valued at $173,000 after acquiring an additional 33,826 shares during the period. Finally, Citadel Advisors LLC acquired a new position in shares of Oncolytics Biotech in the 3rd quarter worth approximately $535,000. 6.82% of the stock is currently owned by hedge funds and other institutional investors.

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.