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

Key Points

• Wall Street Zen upgraded ONCY from "strong sell" to "hold", but analyst ratings remain mixed (one Strong Buy, two Buy, one Hold, one Sell) with an average MarketBeat consensus of "Moderate Buy" and a $8.50 price target.
• Shares trade under $1 (opened at $0.96) with a $111.5M market cap and a 12‑month range of $0.33–$1.51; the company missed quarterly EPS ($0.08 loss vs. $0.06 expected) and analysts project -0.28 EPS for the year.
• Notable insider buying: two insiders increased positions in February and insiders bought a total of 404,282 shares (~$363,232) over the past 90 days, though insiders still own just 0.10% of the stock.

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

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Oncolytics Biotech in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Oncolytics Biotech has an average rating of "Moderate Buy" and an average price target of $8.50.

Oncolytics Biotech Price Performance

Shares of ONCY stock opened at $0.96 on Friday. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.51. The firm has a market cap of $111.52 million, a PE ratio of -3.31 and a beta of 0.98. The stock has a 50 day moving average of $0.98 and a 200-day moving average of $1.06.

Oncolytics Biotech (NASDAQ:ONCY - Get Free Report) last announced its quarterly earnings data on Monday, March 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, equities analysts predict that Oncolytics Biotech will post -0.28 EPS for the current fiscal year.

Insider Transactions at Oncolytics Biotech

In other news, Director Patricia S. Andrews acquired 35,400 shares of Oncolytics Biotech stock in a transaction on Thursday, February 12th. The stock was bought at an average price of $0.86 per share, for a total transaction of $30,444.00. Following the transaction, the director owned 78,128 shares of the company's stock, valued at $67,190.08. The trade was a 82.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Andrew Aromando acquired 29,600 shares of the firm's stock in a transaction dated Wednesday, February 11th. The shares were purchased at an average cost of $0.86 per share, for a total transaction of $25,456.00. Following the acquisition, the insider directly owned 55,100 shares in the company, valued at $47,386. This represents a 116.08% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 404,282 shares of company stock worth $363,232 over the last 90 days. Insiders own 0.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Scientech Research LLC acquired a new stake in Oncolytics Biotech during the third quarter valued at approximately $25,000. Blair William & Co. IL acquired a new position in shares of Oncolytics Biotech in the 4th quarter worth approximately $28,000. Security National Bank of Sioux City Iowa IA bought a new position in shares of Oncolytics Biotech during the 4th quarter worth approximately $29,000. Ground Swell Capital LLC bought a new position in shares of Oncolytics Biotech during the fourth quarter valued at $30,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Oncolytics Biotech in the 4th quarter valued at $44,000. Institutional investors own 6.82% of the company's stock.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc NASDAQ: ONCY is a clinical-stage biotechnology company focused on the development of novel oncolytic viral therapies for the treatment of cancer. The company's lead investigational agent, pelareorep (Reolysin), is a proprietary formulation of reovirus engineered to selectively infect and destroy tumor cells while stimulating a systemic antitumor immune response. Oncolytics leverages the natural biology of the virus to enhance the activity of standard‐of‐care treatments and immune checkpoint inhibitors.

Pelareorep has progressed into multiple advanced clinical trials, with combination studies conducted in metastatic breast cancer, non‐small cell lung cancer and head and neck cancers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.