Oncolytics Biotech (NASDAQ:ONCY) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Oncolytics Biotech (NASDAQ:ONCY) from a strong sell rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Oncolytics Biotech Stock Performance

Shares of ONCY opened at $0.96 on Friday. The stock has a market cap of $111.52 million, a P/E ratio of -3.31 and a beta of 0.98. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.51. The stock’s 50-day moving average price is $0.98 and its two-hundred day moving average price is $1.06.

Oncolytics Biotech (NASDAQ:ONCY) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). As a group, equities analysts forecast that Oncolytics Biotech will post -0.28 EPS for the current year.

Insiders Place Their Bets

In other Oncolytics Biotech news, Director Wayne Pisano bought 30,000 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $0.84 per share, with a total value of $25,200.00. Following the completion of the purchase, the director owned 492,414 shares in the company, valued at approximately $413,627.76. The trade was a 6.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Andrew Aromando purchased 29,600 shares of the stock in a transaction on Wednesday, February 11th. The stock was acquired at an average price of $0.86 per share, with a total value of $25,456.00. Following the completion of the acquisition, the insider directly owned 55,100 shares of the company’s stock, valued at approximately $47,386. This represents a 116.08% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 404,282 shares of company stock valued at $363,232. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Oncolytics Biotech

Several institutional investors and hedge funds have recently modified their holdings of ONCY. Scientech Research LLC bought a new stake in Oncolytics Biotech during the 3rd quarter worth approximately $25,000. Blair William & Co. IL bought a new position in Oncolytics Biotech in the fourth quarter valued at approximately $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Oncolytics Biotech in the fourth quarter valued at approximately $29,000. Ground Swell Capital LLC bought a new stake in shares of Oncolytics Biotech during the fourth quarter worth $30,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Oncolytics Biotech during the fourth quarter worth $44,000. 6.82% of the stock is currently owned by institutional investors and hedge funds.

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.