Brokerages Set Oncolytics Biotech Inc. (NASDAQ:ONCY) Price Target at $6.25

Oncolytics Biotech Inc. (NASDAQ:ONCY) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $6.25.

Several research firms recently issued reports on ONCY. HC Wainwright increased their target price on shares of Oncolytics Biotech from $5.00 to $10.00 and gave the stock a “buy” rating in a report 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 restated a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Monday, December 29th.

Oncolytics Biotech Stock Down 7.8%

Shares of ONCY opened at $0.98 on Friday. The business has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.07. Oncolytics Biotech has a 52 week low of $0.33 and a 52 week high of $1.51. The stock has a market cap of $103.75 million, a price-to-earnings ratio of -3.49 and a beta of 0.99.

Insider Activity at Oncolytics Biotech

In other news, Director Wayne Pisano purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was bought 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. This represents a 6.49% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bernd R. Seizinger bought 100,000 shares of the stock in a transaction dated Friday, January 16th. The shares were purchased at an average price of $1.04 per share, with a total value of $104,000.00. Following the completion of the transaction, the director directly owned 466,991 shares in the company, valued at approximately $485,670.64. The trade was a 27.25% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 389,232 shares of company stock worth $348,084 over the last ninety days. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tocqueville Asset Management L.P. purchased a new stake in Oncolytics Biotech in the 4th quarter worth about $63,000. Citadel Advisors LLC purchased a new position in Oncolytics Biotech in the 3rd quarter worth about $535,000. Blair William & Co. IL purchased a new position in Oncolytics Biotech in the 4th quarter worth about $28,000. Security National Bank of Sioux City Iowa IA bought a new stake in Oncolytics Biotech during the 4th quarter valued at about $29,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Oncolytics Biotech in the 4th quarter valued at about $44,000. 6.82% of the stock is owned by hedge funds and other 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.