Lake Street Capital Upgrades Oncolytics Biotech (TSE:ONC) to Strong-Buy

Key Points

• Lake Street Capital has upgraded Oncolytics Biotech (TSE:ONC) to a "strong-buy" rating, indicating positive investor sentiment.
• In contrast, Jones Trading recently downgraded the stock from a "strong-buy" to a "hold" rating.
• Oncolytics Biotech shares increased by 19.7%, with recent insider buying signaling confidence in the company's future.

Oncolytics Biotech (TSE:ONC - Get Free Report) was upgraded by Lake Street Capital to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Jones Trading cut shares of Oncolytics Biotech from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th.

Oncolytics Biotech Stock Up 19.7%

Shares of TSE ONC opened at C$1.40 on Wednesday. The stock has a market capitalization of C$107.90 million, a price-to-earnings ratio of -3.90 and a beta of 1.35. Oncolytics Biotech has a 52 week low of C$0.44 and a 52 week high of C$2.08. The firm has a 50-day moving average price of C$1.22 and a 200 day moving average price of C$0.97. The company has a quick ratio of 8.86, a current ratio of 2.99 and a debt-to-equity ratio of 11.75.

Insiders Place Their Bets

In other news, Senior Officer Jared Ryan Kelly purchased 50,400 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was acquired at an average price of C$1.63 per share, with a total value of C$82,284.50. Also, Senior Officer Andrew P. Aromando acquired 25,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was acquired at an average price of C$1.62 per share, for a total transaction of C$41,425.92. Over the last ninety days, insiders have bought 108,300 shares of company stock worth $178,192. 3.82% of the stock is owned by corporate insiders.

About Oncolytics Biotech

Oncolytics Biotech Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. The company is developing pelareorep, an intravenously delivered immunotherapeutic agent, which is in phase 3 clinical trial for the treatment of hormone receptor-positive / human epidermal growth factor 2-negative metastatic breast cancer and advanced/metastatic pancreatic ductal adenocarcinoma.

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