Oncolytics Biotech’s (ONCY) Buy Rating Reiterated at HC Wainwright

Oncolytics Biotech (NASDAQ:ONCY)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $5.00 target price on the stock.

ONCY has been the topic of a number of other research reports. Jones Trading reaffirmed a “hold” rating on shares of Oncolytics Biotech in a research note on Friday, May 16th. Maxim Group cut their price objective on Oncolytics Biotech from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, Royal Bank of Canada decreased their target price on Oncolytics Biotech from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.33.

Oncolytics Biotech Stock Performance

Shares of ONCY opened at $0.43 on Wednesday. Oncolytics Biotech has a fifty-two week low of $0.41 and a fifty-two week high of $1.53. The stock has a market capitalization of $37.14 million, a PE ratio of -1.59 and a beta of 1.00. The company’s fifty day moving average is $0.55 and its 200 day moving average is $0.75.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. As a group, research analysts forecast that Oncolytics Biotech will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Oncolytics Biotech

A number of institutional investors have recently modified their holdings of ONCY. Vantage Point Financial LLC purchased a new stake in shares of Oncolytics Biotech in the fourth quarter valued at approximately $27,000. National Bank of Canada FI raised its position in Oncolytics Biotech by 199.6% during the 4th quarter. National Bank of Canada FI now owns 64,479 shares of the company’s stock valued at $60,000 after purchasing an additional 42,955 shares in the last quarter. Geode Capital Management LLC raised its position in Oncolytics Biotech by 59.6% during the 4th quarter. Geode Capital Management LLC now owns 66,939 shares of the company’s stock valued at $61,000 after purchasing an additional 24,997 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Oncolytics Biotech in the 4th quarter worth $90,000. 6.82% of the stock is owned by hedge funds and other 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.