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 earned an average rating of "Moderate Buy" from the five analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $5.00.

ONCY has been the subject of a number of analyst reports. Lake Street Capital initiated coverage on Oncolytics Biotech in a report on Wednesday, August 13th. They issued a "buy" rating and a $7.00 price target for the company. Wall Street Zen raised Oncolytics Biotech from a "sell" rating to a "hold" rating in a report on Saturday, August 16th.

Institutional Trading of Oncolytics Biotech

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

Oncolytics Biotech Stock Performance

Shares of Oncolytics Biotech stock remained flat at $1.36 during trading on Thursday. The stock had a trading volume of 655,584 shares, compared to its average volume of 1,324,075. The stock has a market cap of $136.49 million, a price-to-earnings ratio of -5.04 and a beta of 1.19. Oncolytics Biotech has a 1 year low of $0.33 and a 1 year high of $1.53. The firm's 50-day moving average is $1.11 and its two-hundred day moving average is $0.77.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. On average, equities research analysts anticipate that Oncolytics Biotech will post -0.28 earnings per share for the current fiscal year.

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.