Renaissance Technologies LLC Buys Shares of 715,838 Oncolytics Biotech Inc. $ONCY

Renaissance Technologies LLC bought a new stake in Oncolytics Biotech Inc. (NASDAQ:ONCY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 715,838 shares of the company’s stock, valued at approximately $608,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Scientech Research LLC bought a new stake in shares of Oncolytics Biotech during the 3rd quarter worth approximately $25,000. Blair William & Co. IL bought a new position in Oncolytics Biotech in the fourth quarter valued at approximately $28,000. Security National Bank of Sioux City Iowa IA bought a new position in Oncolytics Biotech in 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. 6.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on ONCY. Wall Street Zen downgraded Oncolytics Biotech from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright reissued a “buy” rating on shares of Oncolytics Biotech in a report on Tuesday, July 14th. Finally, Weiss Ratings upgraded Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.00.

Oncolytics Biotech Stock Performance

ONCY opened at $0.83 on Monday. The company has a market cap of $99.54 million, a P/E ratio of -2.45 and a beta of 1.13. The company’s 50 day moving average is $0.86 and its 200-day moving average is $0.92. Oncolytics Biotech Inc. has a 1-year low of $0.73 and a 1-year high of $1.51.

Oncolytics Biotech (NASDAQ:ONCY) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). On average, equities analysts forecast that Oncolytics Biotech Inc. will post -0.25 EPS for the current year.

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.