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

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have been given an average rating of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $8.50.

Several equities analysts have recently weighed in on ONCY shares. HC Wainwright lifted their target price 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. Wall Street Zen cut shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday, December 29th.

Oncolytics Biotech Stock Performance

Shares of Oncolytics Biotech stock opened at $0.98 on Thursday. The stock has a market capitalization of $104.45 million, a P/E ratio of -3.51 and a beta of 0.92. Oncolytics Biotech has a 52-week low of $0.33 and a 52-week high of $1.51. The stock’s 50-day simple moving average is $1.01 and its 200 day simple moving average is $1.08.

Insider Buying and Selling

In related news, Director Wayne Pisano purchased 30,000 shares of Oncolytics Biotech stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $0.84 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the director owned 492,414 shares in the company, valued at $413,627.76. This trade represents a 6.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia S. Andrews acquired 35,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average price of $0.86 per share, for a total transaction of $30,444.00. Following the completion of the purchase, the director owned 78,128 shares in the company, valued at $67,190.08. This trade represents a 82.85% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 404,282 shares of company stock worth $363,232. Insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Seeds Investor LLC grew its holdings in Oncolytics Biotech by 17.8% during the 2nd quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock valued at $173,000 after buying an additional 33,826 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Oncolytics Biotech in the third quarter worth about $535,000. Scientech Research LLC purchased a new stake in shares of Oncolytics Biotech in the third quarter worth about $25,000. Ground Swell Capital LLC purchased a new stake in shares of Oncolytics Biotech in the fourth quarter worth about $30,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Oncolytics Biotech in the fourth quarter valued at approximately $44,000. 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.