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

Key Points

• Oncolytics Biotech Inc. has received a consensus recommendation of "Moderate Buy" from five analysts, with four buy ratings and a hold rating.
• The average 1-year target price for Oncolytics Biotech stock is $5.00, with Lake Street Capital setting a more optimistic target of $7.00.
• Geode Capital Management recently increased its stake in Oncolytics Biotech by 59.6%, highlighting growing institutional interest in the company.

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

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

Institutional Trading of Oncolytics Biotech

An institutional investor recently raised its position in Oncolytics Biotech stock. Seeds Investor LLC grew its holdings in Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 223,767 shares of the company's stock after buying an additional 33,826 shares during the quarter. Seeds Investor LLC owned approximately 0.23% of Oncolytics Biotech worth $173,000 at the end of the most recent reporting period. 6.82% of the stock is currently owned by institutional investors.

Oncolytics Biotech Stock Down 2.8%

Oncolytics Biotech stock traded down $0.03 during mid-day trading on Friday, hitting $1.04. 611,518 shares of the company were exchanged, compared to its average volume of 684,128. The business has a fifty day moving average of $1.00 and a 200 day moving average of $0.72. Oncolytics Biotech has a 1-year low of $0.33 and a 1-year high of $1.53. The company has a market capitalization of $104.37 million, a PE ratio of -3.85 and a beta of 1.09.

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 (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Research analysts expect that Oncolytics Biotech will post -0.28 earnings per share 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.