Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives $8.50 Average PT from Brokerages

Oncolytics Biotech Inc. (NASDAQ:ONCY) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $8.50.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday, December 29th.

Oncolytics Biotech Stock Performance

ONCY stock opened at $0.96 on Thursday. The stock’s 50 day simple moving average is $1.01 and its 200 day simple moving average is $1.08. The company has a market cap of $101.96 million, a P/E ratio of -3.43 and a beta of 0.92. Oncolytics Biotech has a fifty-two week low of $0.33 and a fifty-two week high of $1.51.

Insider Buying and Selling at Oncolytics Biotech

In other Oncolytics Biotech news, Director Wayne Pisano acquired 30,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were 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 of the company’s stock, valued at approximately $413,627.76. This 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 can be accessed through this link. Also, Director Patricia S. Andrews acquired 35,400 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $30,444.00. Following the completion of the purchase, the director directly owned 78,128 shares of the company’s stock, valued at approximately $67,190.08. This represents a 82.85% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 404,282 shares of company stock worth $363,232. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Oncolytics Biotech

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC bought a new position in shares of Oncolytics Biotech during the 3rd quarter worth approximately $535,000. Seeds Investor LLC boosted its stake in shares of Oncolytics Biotech by 17.8% in the 2nd 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. Connective Capital Management LLC bought a new position in shares of Oncolytics Biotech in the fourth quarter valued at approximately $131,000. XTX Topco Ltd purchased a new stake in shares of Oncolytics Biotech during the fourth quarter valued at approximately $69,000. Finally, Virtu Financial LLC purchased a new stake in shares of Oncolytics Biotech during the fourth quarter valued at approximately $68,000. 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.