Oncolytics Biotech (NASDAQ:ONCY) Rating Increased to Hold at Wall Street Zen

Key Points

• Oncolytics Biotech (NASDAQ:ONCY) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more cautious outlook on the stock.
• Lake Street Capital initiated coverage with a "buy" rating and a target price of $7.00, while HC Wainwright also reiterated a "buy" rating with a price target of $5.00.
• As of the latest reports, Oncolytics Biotech has a market cap of $105.20 million and has seen a 14.9% increase in stock price, currently trading at $1.08.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. Jones Trading reiterated a "hold" rating on shares of Oncolytics Biotech in a research note on Friday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $5.00 target price on shares of Oncolytics Biotech in a research note on Wednesday, May 21st. Finally, Lake Street Capital started coverage on shares of Oncolytics Biotech in a research report on Wednesday, August 13th. They issued a "buy" rating and a $7.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $5.00.

Oncolytics Biotech Stock Down 2.0%

Shares of ONCY traded down $0.02 during mid-day trading on Friday, hitting $0.99. 264,935 shares of the company's stock were exchanged, compared to its average volume of 984,700. The firm has a fifty day moving average of $0.93 and a two-hundred day moving average of $0.70. Oncolytics Biotech has a twelve month low of $0.3258 and a twelve month high of $1.53. The stock has a market cap of $96.43 million, a price-to-earnings ratio of -3.67 and a beta of 1.09.

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

Hedge Funds Weigh In On Oncolytics Biotech

A hedge fund recently raised its stake in Oncolytics Biotech stock. Geode Capital Management LLC boosted its position in shares of Oncolytics Biotech Inc. (NASDAQ:ONCY - Free Report) by 59.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,939 shares of the company's stock after purchasing an additional 24,997 shares during the quarter. Geode Capital Management LLC owned 0.08% of Oncolytics Biotech worth $61,000 as of its most recent SEC filing. 6.82% of the stock is currently owned by institutional investors.

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.