Oncolytics Biotech (NASDAQ:ONCY) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Oncolytics Biotech (NASDAQ:ONCY) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings upgraded Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.50.

Oncolytics Biotech Stock Performance

ONCY stock opened at $0.85 on Friday. Oncolytics Biotech has a fifty-two week low of $0.33 and a fifty-two week high of $1.51. The business’s 50 day moving average price is $0.97 and its two-hundred day moving average price is $1.00. The company has a market capitalization of $98.71 million, a price-to-earnings ratio of -2.74 and a beta of 1.02.

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

Hedge Funds Weigh In On Oncolytics Biotech

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONCY. Renaissance Technologies LLC bought a new position in Oncolytics Biotech in the 1st quarter valued at approximately $608,000. Citadel Advisors LLC bought a new position in Oncolytics Biotech in the 3rd quarter valued at approximately $535,000. Connective Capital Management LLC bought a new position in Oncolytics Biotech in the 4th quarter valued at approximately $131,000. XTX Topco Ltd bought a new position in Oncolytics Biotech in the 4th quarter valued at approximately $69,000. Finally, Virtu Financial LLC bought a new position in Oncolytics Biotech in the 4th quarter valued at approximately $68,000. 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.