Kirk Look Purchases 12,000 Shares of Oncolytics Biotech (NASDAQ:ONCY) Stock

Oncolytics Biotech Inc. (NASDAQ:ONCY) CFO Kirk Look purchased 12,000 shares of the stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $0.84 per share, for a total transaction of $10,080.00. Following the acquisition, the chief financial officer directly owned 287,515 shares of the company’s stock, valued at approximately $241,512.60. This represents a 4.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Oncolytics Biotech Stock Performance

Shares of ONCY stock opened at $0.83 on Friday. The firm has a market capitalization of $88.60 million, a PE ratio of -2.98 and a beta of 0.99. 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 52-week low of $0.33 and a 52-week high of $1.51.

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. On average, sell-side analysts forecast that Oncolytics Biotech Inc. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncolytics Biotech

A number of hedge funds and other institutional investors have recently made changes to their positions in ONCY. Scientech Research LLC purchased a new position in shares of Oncolytics Biotech during the third quarter valued at $25,000. Seeds Investor LLC raised its holdings 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 valued at $173,000 after purchasing an additional 33,826 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in Oncolytics Biotech during the fourth quarter worth $30,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Oncolytics Biotech during the 4th quarter worth $44,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Oncolytics Biotech during the fourth quarter valued at about $63,000. Institutional investors own 6.82% of the company’s stock.

Analyst Upgrades and Downgrades

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

Oncolytics Biotech Company Profile

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.