Oncolytics Biotech (NASDAQ:ONCY) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Oncolytics Biotech (NASDAQ:ONCY) from a buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Oncolytics Biotech, Inc. focuses on the discovery and development of pharmaceutical products for the treatment of a wide variety of human and companion pet cancers. The Company was formed to explore the oncolytic capability of the reovirus, a virus that preferentially replicates in cells with an activated Ras pathway, one of the most common family of genetic defects leading to cancer. “

A number of other equities analysts have also recently issued reports on the stock. Leede Jones Gab restated a speculative buy rating on shares of Oncolytics Biotech in a research report on Wednesday, February 24th. HC Wainwright started coverage on shares of Oncolytics Biotech in a research report on Wednesday, February 17th. They set a buy rating and a $15.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $8.42.

Shares of NASDAQ ONCY opened at $2.64 on Wednesday. Oncolytics Biotech has a 52 week low of $1.52 and a 52 week high of $4.83. The firm has a 50-day moving average price of $3.30 and a 200 day moving average price of $2.87. The stock has a market capitalization of $139.51 million, a price-to-earnings ratio of -3.26 and a beta of 2.75.

Oncolytics Biotech (NASDAQ:ONCY) last announced its earnings results on Friday, March 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.03). Research analysts forecast that Oncolytics Biotech will post -0.4 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Brave Asset Management Inc. acquired a new position in shares of Oncolytics Biotech in the first quarter valued at approximately $38,000. Banque Cantonale Vaudoise raised its position in shares of Oncolytics Biotech by 723.7% in the first quarter. Banque Cantonale Vaudoise now owns 11,268 shares of the company’s stock valued at $42,000 after buying an additional 9,900 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Oncolytics Biotech in the fourth quarter valued at approximately $47,000. Toronto Dominion Bank raised its position in shares of Oncolytics Biotech by 190.5% in the first quarter. Toronto Dominion Bank now owns 22,465 shares of the company’s stock valued at $85,000 after buying an additional 14,731 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Oncolytics Biotech by 51.4% in the first quarter. Geode Capital Management LLC now owns 24,545 shares of the company’s stock valued at $92,000 after buying an additional 8,335 shares during the last quarter. 1.90% of the stock is owned by institutional investors and hedge funds.

About Oncolytics Biotech

Oncolytics Biotech Inc, a development stage biopharmaceutical company, focuses on the discovery and development of pharmaceutical products for the treatment of cancer. Its lead product is pelareorep, an immuno-oncology viral-agent for the treatment of solid tumors and hematological malignancies. The company has collaboration agreements with Merck KGaA and Pfizer Inc to co-develop pelareorep in combination with paclitaxel and avelumab, a human anti-PD-L1 antibody for the treatment of hormone-receptor positive, human epidermal growth factor 2-negative metastatic breast cancer; and PrECOG LLC.

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