Oncolytics Biotech (NASDAQ:ONCY) Price Target Cut to $5.00 by Analysts at Royal Bank of Canada

Oncolytics Biotech (NASDAQ:ONCY) had its price target dropped by research analysts at Royal Bank of Canada from $6.00 to $5.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock.

A number of other analysts have also weighed in on the stock. Leede Financial lowered shares of Oncolytics Biotech from a “strong-buy” rating to a “moderate buy” rating in a research report on Wednesday, November 13th. Raymond James upgraded Oncolytics Biotech to a “moderate buy” rating in a report on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Oncolytics Biotech in a research note on Monday, February 3rd.

Oncolytics Biotech Price Performance

Shares of ONCY traded down $0.03 during midday trading on Monday, hitting $0.65. The stock had a trading volume of 158,423 shares, compared to its average volume of 1,374,312. The stock’s 50 day moving average is $0.78 and its 200 day moving average is $0.93. The firm has a market cap of $55.92 million, a PE ratio of -2.44 and a beta of 1.18. Oncolytics Biotech has a 1 year low of $0.60 and a 1 year high of $1.53.

Institutional Investors Weigh In On Oncolytics Biotech

Several large investors have recently added to or reduced their stakes in ONCY. Geode Capital Management LLC increased its position in shares of Oncolytics Biotech by 59.6% during the fourth quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock worth $61,000 after acquiring an additional 24,997 shares during the period. National Bank of Canada FI grew its stake in Oncolytics Biotech by 199.6% in the fourth quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock worth $60,000 after purchasing an additional 42,955 shares in the last quarter. Virtu Financial LLC purchased a new position in Oncolytics Biotech during the 4th quarter worth $90,000. Vantage Point Financial LLC bought a new stake in Oncolytics Biotech during the 4th quarter valued at $27,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Oncolytics Biotech by 15.0% in the 4th quarter. International Assets Investment Management LLC now owns 200,400 shares of the company’s stock worth $186,000 after buying an additional 26,069 shares during the period. 6.82% of the stock is owned by hedge funds and other institutional investors.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.