Oncolytics Biotech (NASDAQ:ONCY) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of Oncolytics Biotech (NASDAQ:ONCY) from a sell rating to a hold rating in a research report released on Wednesday morning, ValuEngine reports.

Several other research analysts have also recently commented on ONCY. Zacks Investment Research upgraded Oncolytics Biotech from a hold rating to a buy rating and set a $0.75 price target on the stock in a research note on Saturday, November 16th. Roth Capital increased their price target on Oncolytics Biotech from $6.80 to $9.00 and gave the company a buy rating in a report on Thursday, January 2nd.

Shares of ONCY stock traded up $0.13 on Wednesday, hitting $3.24. The stock had a trading volume of 975,469 shares, compared to its average volume of 2,700,881. Oncolytics Biotech has a 52-week low of $0.35 and a 52-week high of $6.02. The firm has a market capitalization of $77.53 million, a price-to-earnings ratio of -3.95 and a beta of 3.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.78 and a current ratio of 3.78. The stock’s 50 day moving average is $2.31 and its 200-day moving average is $1.29.

Oncolytics Biotech (NASDAQ:ONCY) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. Equities analysts expect that Oncolytics Biotech will post -0.74 earnings per share for the current year.

A hedge fund recently bought a new stake in Oncolytics Biotech stock. Verition Fund Management LLC purchased a new position in Oncolytics Biotech, Inc. (NASDAQ:ONCY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 408,838 shares of the company’s stock, valued at approximately $695,000. Verition Fund Management LLC owned about 2.01% of Oncolytics Biotech at the end of the most recent quarter. Hedge funds and other institutional investors own 1.59% of the company’s stock.

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. The company is developing REOLYSIN, an immuno-oncology viral-agent that comprises three programs: chemotherapy combinations to trigger selective tumor lysis; immune modulator combinations to facilitate innate immune responses; and immuno-therapy combinations to produce adaptive immune responses.

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