Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives $6.25 Average Target Price from Analysts

Oncolytics Biotech Inc. (NASDAQ:ONCY) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $6.25.

A number of research analysts have recently issued reports on ONCY shares. 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 lowered shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncolytics Biotech in a research report on Monday, December 29th. Finally, HC Wainwright increased their price target on Oncolytics Biotech from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 17th.

Oncolytics Biotech Trading Down 2.4%

Shares of ONCY stock opened at $1.24 on Wednesday. Oncolytics Biotech has a 1-year low of $0.33 and a 1-year high of $1.51. The stock has a market cap of $131.63 million, a price-to-earnings ratio of -4.43 and a beta of 0.97. The stock has a 50-day moving average of $1.00 and a 200-day moving average of $1.10.

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

Insiders Place Their Bets

In other Oncolytics Biotech news, Director Bernd R. Seizinger bought 100,000 shares of the stock in a transaction on Friday, January 16th. The stock was acquired at an average cost 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.10% of the company’s stock.

Institutional Trading of Oncolytics Biotech

Several hedge funds have recently modified their holdings of the stock. Scientech Research LLC acquired a new position in shares of Oncolytics Biotech during the 3rd quarter valued at $25,000. Seeds Investor LLC increased its stake in Oncolytics Biotech by 17.8% in the second quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock valued at $173,000 after purchasing an additional 33,826 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Oncolytics Biotech during the third quarter valued at about $535,000. Institutional investors own 6.82% of the company’s stock.

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.