Brokerages Set Oncolytics Biotech Inc. (NASDAQ:ONCY) Price Target at $8.50

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have received an average rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.50.

Several brokerages recently issued reports on ONCY. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Friday, March 27th. Wall Street Zen raised shares of Oncolytics Biotech from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 4th.

Oncolytics Biotech Price Performance

Shares of NASDAQ ONCY opened at $0.93 on Monday. The company has a market capitalization of $108.00 million, a PE ratio of -3.21 and a beta of 0.98. The firm’s 50-day moving average is $0.97 and its two-hundred day moving average is $1.04. Oncolytics Biotech has a 12-month low of $0.33 and a 12-month high of $1.51.

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

Insider Activity

In other news, insider Andrew Aromando acquired 29,600 shares of Oncolytics Biotech stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average price of $0.86 per share, with a total value of $25,456.00. Following the completion of the purchase, the insider owned 55,100 shares of the company’s stock, valued at approximately $47,386. This represents a 116.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia S. Andrews acquired 35,400 shares of Oncolytics Biotech stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average cost of $0.86 per share, for a total transaction of $30,444.00. Following the purchase, the director directly owned 78,128 shares of the company’s stock, valued at approximately $67,190.08. This trade represents a 82.85% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 404,282 shares of company stock worth $363,232. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oncolytics Biotech

Large investors have recently bought and sold shares of the stock. Scientech Research LLC purchased a new position in Oncolytics Biotech during the third quarter worth approximately $25,000. Blair William & Co. IL purchased a new position in Oncolytics Biotech during the fourth quarter worth approximately $28,000. Security National Bank of Sioux City Iowa IA purchased a new position in Oncolytics Biotech during the fourth quarter worth approximately $29,000. Ground Swell Capital LLC purchased a new position in Oncolytics Biotech during the fourth quarter worth approximately $30,000. Finally, CIBC Private Wealth Group LLC purchased a new position in Oncolytics Biotech during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 6.82% of the company’s stock.

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.