Wall Street Zen Downgrades Oncolytics Biotech (NASDAQ:ONCY) to Sell

Oncolytics Biotech (NASDAQ:ONCY) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other equities analysts have also issued research reports about the stock. Zacks Research upgraded shares of Oncolytics Biotech from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Lake Street Capital began coverage on Oncolytics Biotech in a research note on Wednesday, August 13th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Oncolytics Biotech in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Oncolytics Biotech Stock Down 3.7%

NASDAQ ONCY opened at $1.04 on Friday. Oncolytics Biotech has a fifty-two week low of $0.33 and a fifty-two week high of $1.51. The business has a 50 day moving average price of $1.22 and a two-hundred day moving average price of $0.95. The stock has a market cap of $104.38 million, a PE ratio of -3.85 and a beta of 1.32.

Oncolytics Biotech (NASDAQ:ONCY) last posted its earnings results on Wednesday, November 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Sell-side analysts anticipate that Oncolytics Biotech will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Oncolytics Biotech

An institutional investor recently raised its position in Oncolytics Biotech stock. Seeds Investor LLC increased its position in Oncolytics Biotech Inc. (NASDAQ:ONCY) by 17.8% in the second quarter, according to 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 6.82% of the company’s stock.

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.