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

Oncolytics Biotech (NASDAQ:ONCY) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings upgraded shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.50.

Oncolytics Biotech Stock Performance

NASDAQ ONCY opened at $0.85 on Friday. The company’s 50-day moving average price is $0.97 and its 200-day moving average price is $1.00. The stock has a market cap of $101.45 million, a PE ratio of -2.74 and a beta of 1.02. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.51.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). As a group, sell-side analysts forecast that Oncolytics Biotech will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Oncolytics Biotech

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

About Oncolytics Biotech

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.