Oncolytics Biotech (NASDAQ:ONCY) Director Purchases $34,000.00 in Stock

Oncolytics Biotech Inc. (NASDAQ:ONCY) Director Bernd Seizinger bought 40,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average price of $0.85 per share, with a total value of $34,000.00. Following the completion of the acquisition, the director owned 566,991 shares of the company’s stock, valued at approximately $481,942.35. This trade represents a 7.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Oncolytics Biotech Price Performance

ONCY stock opened at $0.83 on Friday. The firm has a market capitalization of $88.60 million, a P/E ratio of -2.98 and a beta of 0.99. Oncolytics Biotech Inc. has a 52-week low of $0.33 and a 52-week high of $1.51. The company’s 50 day simple moving average is $0.98 and its 200-day simple moving average is $1.07.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ONCY shares. HC Wainwright increased their price objective on Oncolytics Biotech from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday, December 29th. Wall Street Zen cut shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Zacks Research raised shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

Hedge Funds Weigh In On Oncolytics Biotech

A number of hedge funds have recently added to or reduced their stakes in ONCY. Citadel Advisors LLC bought a new stake in Oncolytics Biotech in the third quarter worth approximately $535,000. Tocqueville Asset Management L.P. acquired a new position in Oncolytics Biotech during the fourth quarter worth $63,000. CIBC Private Wealth Group LLC bought a new position in Oncolytics Biotech during the fourth quarter valued at about $44,000. Ground Swell Capital LLC acquired a new stake in shares of Oncolytics Biotech in the fourth quarter worth about $30,000. Finally, Seeds Investor LLC lifted its position in shares of Oncolytics Biotech by 17.8% in the second quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock worth $173,000 after buying an additional 33,826 shares during the last quarter. Institutional investors and hedge funds 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.