Oncolytics Biotech’s (ONCY) “Buy” Rating Reaffirmed at HC Wainwright

Oncolytics Biotech (NASDAQ:ONCY)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $10.00 target price on the stock.

A number of other equities research analysts have also recently commented on ONCY. Weiss Ratings raised Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 8th. Wall Street Zen cut Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Oncolytics Biotech Price Performance

NASDAQ:ONCY opened at $0.81 on Tuesday. The business’s 50-day simple moving average is $0.94 and its two-hundred day simple moving average is $0.98. The stock has a market cap of $96.61 million, a PE ratio of -2.61 and a beta of 1.02. Oncolytics Biotech has a 52 week low of $0.33 and a 52 week high of $1.51.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). Sell-side analysts anticipate that Oncolytics Biotech will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oncolytics Biotech

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Oncolytics Biotech in the first quarter worth about $608,000. PFG Investments LLC increased its holdings in shares of Oncolytics Biotech by 131.0% in the first quarter. PFG Investments LLC now owns 52,900 shares of the company’s stock worth $45,000 after purchasing an additional 30,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Oncolytics Biotech in the fourth quarter worth about $68,000. Connective Capital Management LLC bought a new stake in shares of Oncolytics Biotech in the fourth quarter worth about $131,000. Finally, XTX Topco Ltd bought a new stake in shares of Oncolytics Biotech in the fourth quarter worth about $69,000. 6.82% of the stock is owned by institutional investors.

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.