Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.25.

ONCY has been the topic of a number of recent research reports. Zacks Research upgraded Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday, December 29th. Wall Street Zen downgraded shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, HC Wainwright boosted their price objective on shares of Oncolytics Biotech from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, November 17th.

Oncolytics Biotech Stock Down 2.0%

Oncolytics Biotech stock opened at $0.99 on Wednesday. The firm has a market cap of $105.09 million, a P/E ratio of -3.54 and a beta of 0.97. The business has a fifty day moving average of $0.99 and a two-hundred day moving average of $1.09. Oncolytics Biotech has a twelve month low of $0.33 and a twelve month high of $1.51.

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

Insider Activity

In other Oncolytics Biotech news, Director Bernd R. Seizinger acquired 100,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director owned 466,991 shares in the company, valued at approximately $485,670.64. This trade represents a 27.25% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ONCY. Citadel Advisors LLC acquired a new position in Oncolytics Biotech during the 3rd quarter valued at about $535,000. Seeds Investor LLC grew its stake 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 acquiring an additional 33,826 shares during the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of Oncolytics Biotech during the third quarter worth about $25,000. 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.