Analysts Set Oncolytics Biotech Inc. (NASDAQ:ONCY) Target Price at $8.50

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY) have received an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.50.

A number of equities research analysts recently weighed in on ONCY shares. Wall Street Zen raised shares of Oncolytics Biotech from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Oncolytics Biotech in a research note on Friday, March 27th.

Oncolytics Biotech Price Performance

ONCY opened at $0.91 on Monday. The company has a market cap of $105.20 million, a price-to-earnings ratio of -3.12 and a beta of 0.98. The firm has a 50 day simple moving average of $0.97 and a 200 day simple moving average of $1.05. Oncolytics Biotech has a fifty-two week low of $0.33 and a fifty-two week high of $1.51.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). As a group, analysts expect that Oncolytics Biotech will post -0.28 EPS for the current year.

Insider Buying and Selling at Oncolytics Biotech

In other Oncolytics Biotech news, Director Bernd R. Seizinger purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average cost of $0.85 per share, with a total value of $34,000.00. Following the completion of the purchase, the director directly owned 566,991 shares in the company, valued at approximately $481,942.35. This represents a 7.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew Aromando purchased 29,600 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average cost of $0.86 per share, with a total value of $25,456.00. Following the completion of the purchase, the insider owned 55,100 shares of the company’s stock, valued at $47,386. The trade was a 116.08% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 404,282 shares of company stock valued at $363,232. 0.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ONCY. Scientech Research LLC acquired a new position in Oncolytics Biotech during the third quarter valued at approximately $25,000. Blair William & Co. IL acquired a new position in Oncolytics Biotech during the fourth quarter valued at approximately $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in Oncolytics Biotech during the fourth quarter valued at approximately $29,000. Ground Swell Capital LLC acquired a new position in Oncolytics Biotech during the fourth quarter valued at approximately $30,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Oncolytics Biotech during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 6.82% of the company’s stock.

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.