Oncolytics Biotech (NASDAQ:ONCY) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Oncolytics Biotech (NASDAQ:ONCY) from a hold rating to a sell rating in a report published on Saturday.

Several other research firms also recently issued reports on ONCY. Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Wednesday, October 8th. Zacks Research upgraded shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Lake Street Capital began coverage on shares of Oncolytics Biotech in a report on Wednesday, August 13th. They issued a “buy” rating and a $7.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Oncolytics Biotech presently has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Oncolytics Biotech Price Performance

NASDAQ:ONCY opened at $1.04 on Friday. The firm has a 50-day moving average of $1.22 and a two-hundred day moving average of $0.95. The stock has a market cap of $104.38 million, a P/E ratio of -3.85 and a beta of 1.32. Oncolytics Biotech has a 1-year low of $0.33 and a 1-year high of $1.51.

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

Hedge Funds Weigh In On Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. Seeds Investor LLC grew its stake in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 223,767 shares of the company’s stock after purchasing an additional 33,826 shares during the quarter. Seeds Investor LLC owned approximately 0.23% of Oncolytics Biotech worth $173,000 as of its most recent SEC filing. 6.82% of the stock is owned by institutional investors and hedge funds.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.