Oncolytics Biotech Inc. (NASDAQ:ONCY) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Oncolytics Biotech Inc. (NASDAQ:ONCY) has received a consensus rating of "Moderate Buy" from six research firms, with an average twelve-month price target of $5.00.
• The company experienced a 17.8% increase in holdings from institutional investor Seeds Investor LLC during the second quarter, owning 0.23% of the company as of the latest SEC filing.
• Oncolytics Biotech reported EPS of ($0.05) for the last quarter, surpassing analyst expectations of ($0.11) and indicating potential improvement in financial performance for the current fiscal year.

Shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Get Free Report) have received a consensus rating of "Moderate Buy" from the six research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $5.00.

ONCY has been the topic of a number of research analyst reports. Lake Street Capital initiated coverage on shares of Oncolytics Biotech in a research note on Wednesday, August 13th. They issued a "buy" rating and a $7.00 target price on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Oncolytics Biotech in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Oncolytics Biotech from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th.

Hedge Funds Weigh In On Oncolytics Biotech

An institutional investor recently raised its position in Oncolytics Biotech stock. Seeds Investor LLC increased its holdings in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 17.8% during the second quarter, according to the company in its most recent disclosure with the SEC. 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 0.23% of Oncolytics Biotech worth $173,000 as of its most recent SEC filing. 6.82% of the stock is currently owned by institutional investors.

Oncolytics Biotech Price Performance

Shares of ONCY stock opened at $1.20 on Monday. The company has a market capitalization of $120.43 million, a P/E ratio of -4.44 and a beta of 1.24. The company's 50-day simple moving average is $1.16 and its two-hundred day simple moving average is $0.85. Oncolytics Biotech has a one year low of $0.33 and a one year high of $1.51.

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

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