Insider Buying: Oncolytics Biotech (NASDAQ:ONCY) Director Purchases 10,000 Shares of Stock

Key Points

• Director James Parsons bought 10,000 shares at an average price of $1.03 on March 11, increasing his stake to 41,849 shares (a 31.4% increase), as disclosed in an SEC filing.
• ONCY traded around $0.97 with a market cap of approximately $102.75 million, a 50-day/200-day moving average near $1.01/$1.08, a 52-week range of $0.33–$1.51, and a negative P/E.
• Analyst views are mixed but the consensus is a "Moderate Buy" with an average price target of $8.50, while institutional ownership remains low at about 6.82%.

Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report) Director James Parsons bought 10,000 shares of the company's stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $1.03 per share, with a total value of $10,300.00. Following the completion of the transaction, the director owned 41,849 shares in the company, valued at approximately $43,104.47. This trade represents a 31.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Oncolytics Biotech Price Performance

ONCY stock traded up $0.01 during midday trading on Friday, hitting $0.97. The stock had a trading volume of 133,879 shares, compared to its average volume of 1,506,746. The business has a 50-day moving average of $1.01 and a two-hundred day moving average of $1.08. The firm has a market cap of $102.75 million, a price-to-earnings ratio of -3.44 and a beta of 0.92. Oncolytics Biotech Inc. has a 52-week low of $0.33 and a 52-week high of $1.51.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ONCY shares. Wall Street Zen cut shares of Oncolytics Biotech from a "hold" rating to a "sell" rating in a report on Saturday, November 15th. HC Wainwright raised their target price 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. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Oncolytics Biotech in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $8.50.

Institutional Trading of Oncolytics Biotech

Several institutional investors and hedge funds have recently made changes to their positions in ONCY. Scientech Research LLC purchased a new stake in shares of Oncolytics Biotech in the third quarter valued at approximately $25,000. Blair William & Co. IL acquired a new stake in Oncolytics Biotech in the fourth quarter worth about $28,000. Security National Bank of Sioux City Iowa IA acquired a new position in Oncolytics Biotech during the 4th quarter valued at approximately $29,000. Seeds Investor LLC raised its stake in Oncolytics Biotech by 17.8% in the 2nd quarter. Seeds Investor LLC now owns 223,767 shares of the company's stock worth $173,000 after acquiring an additional 33,826 shares during the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in shares of Oncolytics Biotech during the fourth quarter worth about $30,000. 6.82% of the stock is currently owned by institutional investors.

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.

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