Insider Buying: Oncolytics Biotech (NASDAQ:ONCY) Director Acquires 35,400 Shares of Stock

Oncolytics Biotech Inc. (NASDAQ:ONCY) Director Patricia Andrews purchased 35,400 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was bought at an average cost of $0.86 per share, for a total transaction of $30,444.00. Following the acquisition, the director directly owned 78,128 shares in the company, valued at $67,190.08. This trade represents a 82.85% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Oncolytics Biotech Trading Down 2.2%

Shares of NASDAQ ONCY opened at $0.83 on Friday. The stock has a fifty day simple moving average of $0.98 and a two-hundred day simple moving average of $1.07. Oncolytics Biotech Inc. has a 1-year low of $0.33 and a 1-year high of $1.51. The firm has a market cap of $88.60 million, a price-to-earnings ratio of -2.98 and a beta of 0.99.

Oncolytics Biotech (NASDAQ:ONCY) last issued its earnings results on Wednesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Analysts forecast that Oncolytics Biotech Inc. will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Oncolytics Biotech

Several hedge funds have recently bought and sold shares of the company. Scientech Research LLC bought a new stake in Oncolytics Biotech during the 3rd quarter worth approximately $25,000. Ground Swell Capital LLC bought a new position in Oncolytics Biotech in the 4th quarter valued at $30,000. CIBC Private Wealth Group LLC purchased a new position in shares of Oncolytics Biotech during the 4th quarter valued at $44,000. Tocqueville Asset Management L.P. bought a new position in shares of Oncolytics Biotech in the fourth quarter worth $63,000. Finally, Seeds Investor LLC raised its position in shares of Oncolytics Biotech by 17.8% in the second quarter. Seeds Investor LLC now owns 223,767 shares of the company’s stock worth $173,000 after buying an additional 33,826 shares in the last quarter. Hedge funds and other institutional investors own 6.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ONCY. HC Wainwright upped their price objective on shares of Oncolytics Biotech from $5.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 17th. Zacks Research upgraded shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Wall Street Zen lowered shares of Oncolytics Biotech from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

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.