Oncolytics Biotech (NASDAQ:ONCY) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncolytics Biotech in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Oncolytics Biotech Price Performance

Shares of ONCY stock opened at $0.95 on Friday. Oncolytics Biotech has a 1-year low of $0.33 and a 1-year high of $1.51. The stock’s 50-day moving average is $0.98 and its 200 day moving average is $1.05. The company has a market cap of $110.32 million, a P/E ratio of -3.28 and a beta of 0.98.

Oncolytics Biotech (NASDAQ:ONCY) last issued its quarterly earnings data on Monday, March 30th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). On average, analysts anticipate that Oncolytics Biotech will post -0.28 EPS for the current year.

Insiders Place Their Bets

In other Oncolytics Biotech news, Director Bernd R. Seizinger purchased 40,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was bought at an average cost of $0.85 per share, for a total transaction of $34,000.00. Following the completion of the purchase, the director owned 566,991 shares in the company, valued at $481,942.35. This represents a 7.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia S. Andrews purchased 35,400 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was acquired at an average price of $0.86 per share, with a total value of $30,444.00. Following the completion of the purchase, the director owned 78,128 shares of the company’s stock, valued at $67,190.08. The trade was a 82.85% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 404,282 shares of company stock valued at $363,232. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oncolytics Biotech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Scientech Research LLC purchased a new stake in Oncolytics Biotech in the third quarter valued at about $25,000. Blair William & Co. IL purchased a new stake in Oncolytics Biotech in the fourth quarter valued at about $28,000. Security National Bank of Sioux City Iowa IA purchased a new stake in Oncolytics Biotech in the fourth quarter valued at about $29,000. Ground Swell Capital LLC purchased a new stake in Oncolytics Biotech in the fourth quarter valued at about $30,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Oncolytics Biotech in the fourth quarter valued at about $44,000. 6.82% of the stock is currently owned by hedge funds and other institutional investors.

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.