Oncolytics Biotech Inc. (NASDAQ:ONCY) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Oncolytics Biotech Inc. has received a consensus rating of "Moderate Buy" from analysts, with one hold rating and four buy ratings from five brokerages covering the stock.
• The company's shares saw a 6.3% increase recently, with a current price of $1.35 and a target price averaging $5.00 among analysts.
• A hedge fund, Seeds Investor LLC, increased its stake in Oncolytics Biotech by 17.8% during the second quarter, now owning approximately 0.23% of the company's stock.

Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report) has received an average rating of "Moderate Buy" from the five research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $5.00.

ONCY has been the subject of several recent analyst reports. Lake Street Capital initiated coverage on Oncolytics Biotech in a research note on Wednesday, August 13th. They issued a "buy" rating and a $7.00 price target for the company. Wall Street Zen upgraded Oncolytics Biotech from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, HC Wainwright restated a "buy" rating and issued a $5.00 price target on shares of Oncolytics Biotech in a research note on Wednesday, May 21st.

Hedge Funds Weigh In On Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. Seeds Investor LLC lifted its holdings in Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 17.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,767 shares of the company's stock after purchasing an additional 33,826 shares during the period. Seeds Investor LLC owned about 0.23% of Oncolytics Biotech worth $173,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 6.82% of the company's stock.

Oncolytics Biotech Trading Up 0.7%

Shares of NASDAQ ONCY traded up $0.01 during trading on Thursday, reaching $1.36. 1,274,154 shares of the company traded hands, compared to its average volume of 1,266,300. The firm's fifty day simple moving average is $1.10 and its 200 day simple moving average is $0.77. The stock has a market cap of $136.49 million, a P/E ratio of -5.04 and a beta of 1.19. Oncolytics Biotech has a 12-month low of $0.33 and a 12-month high of $1.53.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.06. As a group, research analysts expect that Oncolytics Biotech will post -0.28 EPS for the current year.

Oncolytics Biotech Company Profile

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.